From Investing.com

November 8, 2024 8:00 AM:

In an unprecedented surge, U.S. funds received a record $1.38 billion in net inflows in a single day as Bitcoin reached new all-time highs. BlackRock’s IBIT fund led the way with $1.12 billion in inflows, signaling a growing interest in regulated BTC exposure among traditional investors.

Investors are increasingly favoring Spot Bitcoin ETFs over direct exposure, indicating a shift towards safe, regulated financial products based on Bitcoin. This trend reflects the rising demand for digital assets, especially as institutions like BlackRock offer compliant access to cryptocurrencies.

As Bitcoin continues its upward trend, hitting new all-time highs for three consecutive days, the interest in ETFs linked to the cryptocurrency grows. The price of BTC reached $76,999.99 on Binance Futures and slightly higher on Coinbase, showcasing the surging investor interest in the asset.

Notably, Ethereum-based ETFs also saw significant investor interest, recording the third-highest single-day inflow in history at $79 million. This suggests a broader interest in crypto-backed financial products beyond Bitcoin, indicating a more diversified approach by investors exploring digital asset opportunities.

Read more at Investing.com: BlackRock’s Bitcoin ETF Breaks Records By U.Today