BlackRock Bitcoin ETF Inflows Surge $273M as Investors Sit 22% Underwater
BLK sits 19% above its 52-week low of $917.39 on light trading volume (0.2× avg).
Summary
BlackRock's iShares Bitcoin Trust (IBIT) pulled in $209.6 million net over four sessions through July 30, more than the entire U.S. spot Bitcoin ETF complex combined. The buying reversed earlier-week selling and came as the average ETF buyer sits on a 22% unrealized loss, with aggregate losses hitting $16.33 billion. The flows reflect client demand, not proprietary bets, and follow a brutal June that saw $4.51 billion in outflows. IBIT now holds 61% of all U.S. spot Bitcoin ETF assets, and the renewed buying suggests institutional conviction despite deep underwater positions.
At the time of this announcement, BLK was trading at $1,090.15 on NYSE in the Finance sector, with a market capitalization of approximately $177.3B. The 52-week trading range was $917.39 to $1,219.94. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Beincrypto.