BlackRock’s spot Bitcoin ETF recorded $875 million of inflows on Oct. 30, surpassing its previous record by around 3%.
BlackRock news
Continued ETF inflows could help push Bitcoin to a new all-time high, which the asset came within $200 of on Oct. 29.
Bitcoin’s path to $70,000 hinges on lower interest rates, the US election outcome, boosted BTC miner profits, and strong spot ETF demand.
While global markets embrace crypto ETFs, Japan’s strict tax policies and regulatory caution impede further adoption.
BlackRock’s Bitcoin fund carried over to the rest of the United States spot Bitcoin ETFs, which recorded a net inflow of $294 million on Oct. 21.
Spot Bitcoin ETF inflows can have a delayed effect on the BTC price, which takes a couple of days to materialize, according to market analysts.
BlackRock and Securitize are reportedly in talks to integrate BUIDL as collateral for derivatives trading on Binance, OKX, and Debirit.
As Trump extends his lead over Harris in the prediction markets, BlackRock CEO Larry Fink said it doesn’t matter to Bitcoin who occupies the White House.
The securities regulator authorized Bitcoin options to list on BlackRock’s spot BTC ETF in September.
A drop in Ethereum network activity and investors’ concerns about the global economy continue to weigh on ETH price.