30s Summary

BlackRock’s Bitcoin fund, known as Bitcoin ETF (IBIT), has received a sudden inflow of more than $1 billion on the day Bitcoin hit a record high. This windfall represents a major turnaround for the fund, which had been losing money over the previous two days. This investment made up almost 82% of a total of $1.34 billion inflow across different Bitcoin exchange-traded funds in the USA. This is the largest one-day gain ever recorded by a Bitcoin exchange-traded fund.

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BlackRock, the biggest asset manager in the world, got a sudden surge of more than $1 billion to its Bitcoin fund. This major gain came on a day when Bitcoin hit another record, reaching its highest value ever.

The Bitcoin fund managed by BlackRock is known as the Bitcoin ETF (or exchange-traded fund called IBIT). This impressive windfall happened on November 7, bringing in $1.1 billion. This is a massive turnaround since the same fund had actually lost money for the past two days, losing over $113.3 million.

All this happened while Bitcoin’s value soared to a new high of almost $77,000. This data comes from CoinMarketCap, a reliable site for tracking cryptocurrency prices.

This major gain for BlackRock’s Bitcoin ETF made up almost 82% of a total of $1.34 billion that day. This total amount was spread across 11 different Bitcoin exchange-traded funds in the USA.

Eric Balchunas, an ETF analyst at Bloomberg, was really surprised by how much money came in. He said he expected it to be big, but not this big. He also added that it was the biggest one-day gain any bitcoin exchange-traded fund has ever seen.

So, this is a breaking news story. We will keep an eye on it and let you know if more information comes in soon.