BlackRock’s spot Bitcoin ETF fund IBIT has recorded its largest single-day outflow of $418.1 million amid broader crypto market volatility, though it maintains dominance in the US market.
Presently, GBTC is struggling to find its standing and return to its previous level of relevance among investors.
The eight-day streak in net inflows is a strong indicator that investors are increasingly viewing Bitcoin ETFs as a strategic addition to their portfolios.
City State Bank’s 13F filing dated July 8, 2024, shows that the bank acquired 33 units of the BlackRock iShares Bitcoin Trust (IBIT).