On Wednesday, BlackRock, the world’s largest asset manager, achieved a significant milestone in the Bitcoin ETF market, recording the largest inflows since the inception of these investment funds in January. Bitcoin ETF Demand Soars Ahead Of US Presidential Election According to Bloomberg, approximately $872 million flowed into BlackRock’s iShares Bitcoin Trust on Wednesday, marking a daily record for the fund. This influx highlights the strong demand for Bitcoin ETFs, with subscriptions for this nine-month-old product ranking among the highest globally for ETFs in 2024. As a result of the inflows, BlackRock’s total holdings in Bitcoin now stand at 429,185 BTC, valued at approximately $31.04 billion. This accounts for about 2.04% of Bitcoin’s total supply, capped at 21 million coins. The recent inflows are being attributed to a phenomenon dubbed the “Trump trade,” as pro-crypto Republican nominee Donald Trump gains momentum in betting markets ahead of the upcoming election day on November 5. Related Reading: BNB Price Slips as Peers Climb: Can It Regain Ground? Bitcoin is on the verge of reaching new heights, fueled by a 13% rally in October. James ..
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