BlackRock’s Bitcoin ETF Clocks $1.1B in Inflows, BTC Hits $77K

The world's largest asset manager, BlackRock, accumulated over $1 billion of inflows to its Bitcoin exchange-traded fund (ETF) across a record trading day.

World’s largest asset manager, BlackRock, has seen its Bitcoin exchange-traded fund (ETF) amass over $1 billion in inflows on a record trading day as BTC continued to smash all-time highs.

On Nov. 7, BlackRock’s spot Bitcoin ETF (IBIT) clocked $1.1 billion in inflows, reclaiming the title of an ‘inflow day’ after two consecutive days of outflows totaling $113.3 million, according to Farside data.

Bitcoin hits nearly $77K

This comes on the same day that Bitcoin once again clocked new all-time highs, reaching $76,943, according to CoinMarketCap data.

IBIT’s inflows accounted for almost 82% of the inflows generated by the 11 United States-listed spot Bitcoin ETFs on the day, which amounted to $1.34 billion in total.

The Fidelity Wise Origin Bitcoin Fund (FBTC) saw the second-highest inflows at $190.9 million on the same day, followed by the ARK 21Shares Bitcoin ETF (ARKB) with $17.6 million.

Spot Bitcoin ETFs saw a total of $1.34 billion in inflows on Nov. 7. Source: CoinGlass

Several traders are anticipating more significant inflows in the coming days.

“Expect another massive day tomorrow,” crypto trader The Bitcoin Therapist told their 141,400 X followers.

Financial analyst Rajat Soni shared the news with his 100,400 X followers, telling them to “buckle up.”

“Welcome to PumpVember,” crypto commentator Zia ul Haque added.

Large inflow day follows surging trading volume

Bloomberg ETF analyst Eric Balchunas admitted he was “surprised” by the size of the inflows despite already expecting a large number based on the previous day’s trading volume.

“Told y’all it was prob gonna be big, altho even I am surprised it’s that big, by far biggest one day flow of any btc etf ever,” Balchunas wrote in a Nov. 7 X post.

Source: Eric Balchunas

On Nov.6, Balchunas highlighted that the IBIT Bitcoin ETF saw nearly $1.1 billion in trading volume in the first 20 minutes after the market opened following Donald Trump prevailing in the United States presidential election on Nov. 5.

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