In the last five trading days, spot bitcoin ETFs have seen net inflows of more than $2.1 billion, with BlackRock accounting for half of those sales. Of the 80% of direct investors buying IBIT, BlackRock's chief investment officer of ETFs and index investments says 75% had never before owned an iShare.

This week, BlackRock’s spot Bitcoin ETF has taken in over $1 billion alone, representing its sixth largest week of inflows on record based on partial-week data. But the trend isn’t limited to just the Wall Street titan’s product, Butterfill said, with notable inflows across those from several asset managers.

Impressively,7, BlackRock's IBIT amassed net inflows of $309 million, bringing the net US Bitcoin ETFs inflow to over $470 million.

Highly successful hedge fund managers are investing in cryptocurrency. In the first half of 2024, the billionaires listed below started positions in BlackRock 's exchange-traded fund (ETF) that tracks the spot price of Bitcoin ( BTC 0.