BlackRock Bitcoin ETF IBIT Don Pass $1B Inflows and E Ready To Overtake VOO
US spot Bitcoin ETFs get $1.02 billion net inflow last week, wey BlackRock IBIT lead with $624 million, Fidelity FBTC get $318 million, ARK/21Shares get $82 million. Grayscale GBTC still dey experience small outflows. Bitcoin dey trade between $64,500 and $68,200, e rise by 3.4%. Institutional demand don sharp increase as investors dey expect more spot ETF approvals, and dem see say macro environment dey favorable. Meanwhile, Michael Saylor talk say IBIT fit pass Vanguard S&P 500 ETF (VOO) as di top fund wey get investment flows by year end. IBIT physical Bitcoin holding fit reduce supply and make competition between traditional index funds and crypto ETFs more intense till 2025.
Bullish
Di steady $1.02 billion weekly di dey enter US spot Bitcoin ETFs dey show say institution dem get strong demand, wey for history dey ginger Bitcoin price to rise. BlackRock IBIT lead gidigba wit $624 million - plus e fit do pass Vanguard S&P 500 ETF - e show say money don shift well well go crypto product dem. People dey expect say more ETF go get green light, plus physical holding supply tight, e mean say buyers go still dey push. For short term, dis good feeling fit make market still rise, as for long term, the fight between old school and crypto ETFs fit make market wide reach and steady, e dey encourage make people believe say prices go continue go up.