BlackRock’s IBIT Fund Sees Record Inflows Despite Bitcoin Drop

BlackRock’s IBIT Fund Sees Record Inflows Despite Bitcoin Drop

BlackRock’s IBIT Fund attracted net inflows of $318.8 million, even as Bitcoin's price fell to $68,000.

This influx is notable against a backdrop of declining inflows for other ETFs, which saw a combined $32.3 million on October 31.

Inflows for Bitcoin ETFs reached a record $893.3 million on October 30, highlighting the sharp decline the following day.

While BlackRock's fund thrived, Fidelity’s FBTC Fund experienced significant outflows of over $75.2 million.

Other funds, including ARK 21Shares, Bitwise, VanEck, and Grayscale, saw total outflows of $213.2 million.