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Bitcoin and BlackRock At The Center of Surging ETF Interest Amid Market Volatility

by aria-crypto.com

February 5, 2025 at 14:04

Bitcoin and BlackRock At The Center of Surging ETF Interest Amid Market Volatility

$341 million surged into spot Bitcoin ETFs, notably on February 4, with BlackRock's iShares Bitcoin Trust (IBIT) capturing a substantial $249 million of the inflow. This happened right after a significant market drop that, on February 3, saw $235 million pulled out from Bitcoin ETFs, marking a sharp reversal from the prior positivity. Ethereum ETFs experienced steadier gains, adding funds consistently over several days, including $308 million in total inflows on the same day. BlackRock continued strong performances throughout the period, despite massive liquidations across the crypto spectrum occurring from February 1 to February 3, which wiped out billions in leveraged positions. Amidst this turmoil, Bitcoin's price briefly spiked to $91,000. BlackRock also pursued a strategic shift, filing with the SEC to enable in-kind redemptions for its Bitcoin ETF, potentially reducing costs for institutional players. This maneuver underscores the firm's ongoing commitment to integrating Bitcoin into mainstream finance despite the market's inherent volatility.

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