Deutsch한국어日本語中文EspañolFrançaisՀայերենNederlandsРусскийItalianoPortuguêsTürkçePortfolio TrackerSwapCryptocurrenciesPricingIntegrationsNewsEarnBlogNFTWidgetsDeFi Portfolio TrackerOpen API24h ReportPress KitAPI Docs

Premium is discounted today! 👉 Get 60% OFF 👈

BlackRock Bitcoin ETF Hits $80 Billion AUM as BTC Price Targets $120K

6h ago
bullish:

0

bearish:

0

Share
img

On July 10, inflows into spot Bitcoin ETFs surged to a massive $1.175 billion, led by BlackRock iShares Ethereum Trust (IBIT). With BTC price surging further 6% today to $118,000, the net assets under management (AUM) for the BlackRock Bitcoin ETF have crossed $80 billion, with total holdings now reaching 706,000 BTC.

Institutional participation in Bitcoin BTC $115 951 24h volatility: 4.2% Market cap: $2.31 T Vol. 24h: $56.12 B remains strong as the broader crypto market sees a major rally before the “crypto Week” starting July 14.

BlackRock Bitcoin ETF AUM Hits $80 Billion

BlackRock’s iShares Bitcoin Trust (IBIT) has officially reached a record-breaking $80 billion in assets under management (AUM), making it the fastest-growing ETF of its kind. According to data shared by ZeroHedge, the total AUM has tripled over the last 200 trading days, surpassing several traditional commodity ETFs with its unprecedented demand.

For comparison, it took the SPDR Gold Shares ETF ($GLD), the largest gold ETF by assets, more than 15 years to achieve a similar milestone.

IBIT also made history by surpassing 700,000 BTC in holdings for the first time ever. This amount exceeds Strategy’s total Bitcoin stash by approximately 100,000 BTC. As per the Farside Investors’ data, the net inflows into spot Bitcoin ETFs since inception have reached $53.4 billion.

Bloomberg ETF strategist Eric Balchunas reported that the BlackRock Bitcoin ETF clocked a $5 billion in daily trading volume, double its daily average. Moreover, on the previous day, IBIT’s trading volume was $3.5 billion.

Balchunas noted that volume spikes like these, especially on days when Bitcoin price is rising, typically signal “big boy flows” from institutional investors. Based on historical patterns, he added there’s a strong chance Bitcoin ETFs could attract up to $1 billion in net inflows over the next two trading sessions, added Balchunas.

Additionally, the IBIT share price is showing major strength, surging to $66 in after-hours on July 10. Market analysts believe that this rally can further continue to $77-$80.

BTC Price Rally Continues

After hitting an all-time high, Bitcoin price rally has continued hitting fresh highs above $118K earlier today, with daily trading volumes crossing $108 billion, suggesting strong bullish sentiment among traders. As a result, the BTC futures open interest has also surged to $83 billion.

CryptoQuant analyst Crypto Dan noted that Binance whale activity has been behind the recent BTC price rally.

Bitcoin Hyper Pre-Sale, Major Value Unlocking Ahead

Bitcoin Hyper (HYPER) is currently among the best crypto presales to watch out for, going live in the next 24 hours. Bitcoin Hyper, a new Layer-2 protocol designed to scale the Bitcoin network by boosting transaction speeds and cutting fees, is drawing growing investor interest.

Built to leverage Bitcoin’s underlying security, Bitcoin Hyper is positioning itself as a key player in the next wave of BTC infrastructure innovation.

As of now, the presale has raised $2.36 million, with projections to raise more than $2.8 million in the coming days. It can be a clear sign of strong market adoption. A price hike is scheduled for the next presale stage and is expected to take effect within the next 24 hours.

Current Presale Stats

  • Token price: $0.12225
  • Funds raised: $2.36 million

Token ticker: HYPER

The post BlackRock Bitcoin ETF Hits $80 Billion AUM as BTC Price Targets $120K appeared first on Coinspeaker.

6h ago
bullish:

0

bearish:

0

Share
Manage all your crypto, NFT and DeFi from one place

Securely connect the portfolio you’re using to start.