BlackRock's Bitcoin Inflows Surge to $5 Billion, Driving Market Growth

Founder of SkyBridge Capital Anthony Scaramucci has taken to Twitter to draw attention to the fact that BlackRock's Bitcoin inflows have reached a new high. According to Scaramucci, BlackRock's spot-based Bitcoin ETF, IBIT, has seen inflows of $5 billion, surpassing the $3 billion mark within the first month of its launch.

Inflows into Spot Bitcoin ETFs

Yesterday's inflows into spot Bitcoin ETFs amounted to over half a billion USD, reaching $631.3 million. This is a significant increase from the previous day's inflows of $493.4 million. The question arises as to who is selling to the ETFs and why.

Bullish Stance on Bitcoin

Scaramucci is known for his bullish stance on Bitcoin and other top-tier altcoins, including Ethereum. He has criticized the pessimistic sentiment surrounding the market and considers the overall $5 billion inflows for all ETFs to be impressive.

Record-Breaking Inflows

During a recent interview, Bitcoiner and angel investor Anthony Pompliano stated that BlackRock and Fidelity have set a new record for ETF inflows, with $3 billion in net inflows during the first month of trading. This surpasses the inflows of any other ETF in the past 30 years.

Bitcoin's Market Cap Surpasses $1 Trillion

Following the news of significant inflows into ETFs, the price of Bitcoin surged past $51,000, experiencing a 6.75% growth within 24 hours. Although the price has pulled back slightly to $51,200, Bitcoin's market capitalization has exceeded $1 trillion.

In conclusion, BlackRock's Bitcoin inflows have reached an impressive milestone of $5 billion, indicating growing interest and investment in the cryptocurrency market. This surge in inflows has contributed to the significant increase in Bitcoin's price and market capitalization.