BlackRock invests $2.1 billion in Bitcoin market, iShares Trust sees record inflows

From Investing.com
November 04, 2024 01:30:25 pm:

BlackRock’s iShares Trust sees largest weekly netflows since March 2024, with $2.11 billion flowing into the Bitcoin market. CEO Ki Young Ju highlights the unprecedented $872 million inflow into the iShares Bitcoin Trust, setting a new record. Bitcoin’s price reached $73,624 before a six-day decline to $67,444, with a modest rebound to $68,308.

This week is crucial for the crypto market as investors await the Fed’s interest rate decision and Fed Chair Jerome Powell’s comments. Traders predict a 99% likelihood of a quarter-point interest rate cut after September’s 50-basis-point decrease. Economic data points will be monitored closely before the Fed’s decision.

Read more at Investing.com: BlackRock Makes History as $2.1 Billion Enter Bitcoin Market By U.Today