BTCSpotETF attracts huge amounts of money! BlackRock's iShares Bitcoin ETF saw a record-breaking inflow of $872 million in a single day.

BlackRock's BTCSpot ETF, IBIT, is the largest BTCSpot ETF in the United States by net assets. The ETF saw a record-breaking net inflow of over $872 million on Wednesday, according to Bloomberg analysts. It is estimated that the sustained inflow of IBIT may push the total Holdings of all BTCSpot ETFs in the U.S. to exceed 1 million coins, surpassing Satoshi Nakamoto by the end of November. (Background: BTC hits new highs! Insights from 5 heavyweight analysts) According to SoSoValue data, BlackRock's IBIT, the largest BTCSpot ETF in the United States by net assets, saw a net inflow of over $872 million on Wednesday, marking the largest net inflow since its launch in January, surpassing the previous record set on March 12. Cryptocurrency analyst Rachael Lucas of BTCMarkets stated that the recent surge in IBIT inflows is being driven by several key factors, including global Central Bank easing to boost Liquidity, making it easier for investors to access funds. In addition, the increased probability of a victory for pro-cryptocurrency U.S. Republican presidential candidate Trump in the U.S. presidential election may further drive the surge. Overall, the U.S. BTCSpot ETF saw a net inflow of $893.21 million on Wednesday, the second-highest in history. The other six SpotBTC ETFs also saw net inflows on Wednesday, with $12.57 million flowing into Fidelity's FBTC, while the net inflows for ARKB from Ark 21Shares, HODL from VanEck, and BTCO from Invesco were all below $80 million. BITB from Bitwise was the only BTCSpot ETF to see a net outflow on that day, with a net outflow of $23.89 million, while the remaining four BTCSpot ETFs, including GBTC from Grayscale, had no Liquidity that day. Wednesday's net inflows brought the cumulative net inflows of the U.S. BTCSpot ETFs to $24.18 billion, with a volume of $1.97 billion for the 12 BTCSpot ETFs on Wednesday, down from $4.75 billion the previous day. Rachael Lucas stated: "Ahead of the U.S. presidential election, increased inflows into the BTCSpot ETF may occur as investors seek potential Hedging against economic and policy changes, and this period may see higher volatility as markets react to poll data, policy announcements, and debates over digital asset regulation." Will BTC break new highs? Min Jung, a researcher at Presto Research, analyzed that in the short term, everyone is focused on whether BTC can set new historical highs. If BTC can break the $73,800 resistance level, it may trigger an uptrend as those waiting for a breakthrough enter the market. Min Jung believes that the main focus after the U.S. election will be the upcoming Federal Open Market Committee (FOMC) meeting, scheduled for November 6th to 7th after the election, and a series of earnings reports from major tech companies. Will the U.S. BTCSpot ETF Holdings surpass Satoshi Nakamoto? Eric Balchunas, a senior ETF analyst at Bloomberg, analyzed that the huge inflows into IBIT may push the total Holdings of the U.S. BTCSpot ETFs to exceed 1 million coins, surpassing Satoshi Nakamoto by the end of November, holding about 1.1 million BTC. The initial buyers of BTCSpot ETFs were mainly retail investors, but it has become increasingly institutionalized, with institutional Holdings possibly reaching 40% within a year. Related reports: Arthur Hayes' lengthy article: China's "epic point shaving" will eventually lead hot money to flow into BTC. After BTC broke the $73,000 mark, will the trend reverse or experience a healthy pullback? Open interest in BTC continues to soar. Historical review: Is BTC repeating past Bull Market cycles? "BTCSpot ETF attracts huge funds! BlackRock's IBIT sees a record-breaking inflow of $872 million in a single day" This article was first published on BlockTempo, the most influential blockchain news media on the Dynamic Zone (BlockTempo).