CandleFocus BlackRock’s Bitcoin ETF Struggles in September With Just $7 Million in Inflows
2024-09-19
Author: Content Editor
BlackRock's iShares Bitcoin Trust (IBIT) experienced slow inflows of just $6.76 million in September, despite a modest uptick in Bitcoin prices. The fund saw varied trading volumes, with an inflow of $15.82 million on September 16 offset by an outflow of $9.06 million a week earlier. Overall, the ETF sector saw a collective outflow of around $155.30 million from all spot Bitcoin ETFs in September. However, BlackRock released a report titled "Bitcoin: A Unique Diversifier," highlighting Bitcoin's potential as a hedge against traditional financial uncertainties and its role as a safe haven asset during global crises. The report cautions that while Bitcoin presents an intriguing investment opportunity, it should be incorporated cautiously into diversified portfolios due to its volatility and the changing regulatory environment.
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