BlackRock's Bitcoin ETF IBIT Sees Inflows of $260 Million
CryptoNewsTerminal Staff16 Jul, 2024
BlackRock's Bitcoin ETF IBIT Sees Inflows of $260 Million
According to Bitcoin Magazine, BlackRock's Bitcoin spot ETF IBIT witnessed inflows of $260 million today. This significant influx indicates growing institutional interest in Bitcoin as an investment asset. BlackRock's move further legitimizes cryptocurrency and may encourage other major financial institutions to consider similar offerings. This development follows a broader trend of institutional adoption of Bitcoin, with companies like MicroStrategy, Tesla, and Square investing heavily in the digital asset. As more institutions recognize Bitcoin's potential as a store of value and a hedge against inflation, its mainstream acceptance continues to grow.