Spot Bitcoin ETF Money Enter Pass $76B as BlackRock Buy 1,136 BTC
Di spot Bitcoin ETF don dey gbadun over $76 billion net inflows since dem launch am for January 2024, e show say institutional demand dey increase. BlackRock’s iShares Bitcoin Trust (IBIT) dey lead with more than 702,000 BTC and $76 billion assets under management. For Q2 alone, spot Bitcoin ETFs collect around 245,000 BTC, IBIT take 55% share. On July 9, dem get $218 million net inflows—part of five days streak wey total $1.52 billion—while BlackRock add 1,136 BTC (around $126 million). Bitcoin rally reach all-time high $111,970 that day boost optimism among crypto traders. Ethereum ETFs also collect $211 million one session, make total net inflows near $5 billion. Corporate treasuries from Michael Saylor’s Strategy to Japan’s Metaplanet dey also increase their BTC holdings. Bloomberg analysts now give 95% chance say SEC go approve spot ETFs for SOL, XRP and LTC this year. This continuous Bitcoin ETF inflows plus growing altcoin ETF anticipation support bullish view for cryptocurrency market.
Bullish
Strong and steady flow wey dey enter spot Bitcoin ETFs, wey BlackRock’s IBIT dey lead, show say institutional demand strong wella, and e dey push BTC price up. For short time, as ETF subscriptions and inflows dey continue for key market highs, e go likely make more people buy. For long term, with corporate treasury dey allocate more and expected approvals for altcoin ETFs, e go make market liquidity and stability strong pass before, wey go support better outlook for Bitcoin.