30s Summary

BlackRock’s Bitcoin-focused fund hit a record with $875 million inflowed in one day on October 30. Since the fund’s launch earlier this year, the previous record was in March when it attracted $849 million. Crypto traders are predicting the fund could soon hit a daily inflow of $1 billion.

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BlackRock, the largest asset manager globally, just landed a record day of money coming into its Bitcoin-focused fund, known as a spot Bitcoin exchange-traded fund (or Bitcoin ETF for short). Since its kick-off at the start of this year, it hasn’t seen a day like October 30, when it had a whopping $875 million flood in.

In comparison, its previous best day was way back in March when it managed to draw in $849 million. That’s according to figures from CoinGlass and Farside, two resources that track this sort of stuff.

With such a juicy sum flowing in, people are now starting to think we could see a day when a cool billion dollars finds its way into the fund. A well-known crypto trader named Trading Axe seems to think so, having recently told his 70,300 followers, “I said billion-dollar inflows, it was NOT a joke.”

Another popular trader, Cozy The Caller, chimed in with their own prediction for their 164,100 followers, suggesting that we’ll definitely see a day above $1 billion when the fund breaks its all-time high.

Just so you know, this story is still developing. We’ll be sure to bring you more updates when new info surfaces.

Source: Cointelegraph