Bitcoin Hits Record High, Fueling More Interest as ETFs See Big Inflows

Bitcoin's price recently hit an all-time high of $76,943, just a day after reaching $76,500. And this rally didn't happen in a bubble

BlackRock's spot Bitcoin ETF (exchange-traded fund) has seen a massive influx of資金 with this fund alone accounting for an impressive 82% of all spot Bitcoin ETF inflows on November 7. This fund saw a stunning $1.119 billion in inflows over the last day, quickly recovering from the $113 million loss just two days ago.

Meanwhile, Bitcoin's price also hit a record high of $76,943 on Friday, following up on Thursday's record of $76,500. This price rally comes hot on the heels of Donald Trump's recent political victory, which is being viewed positively by the crypto community.

Some market analysts believe that Trump's pro-crypto stance could propel Bitcoin even higher, with some boldly predicting it might hit $100,000 before long. This optimism is palpable in the market, which may be contributing to the strong inflows into Bitcoin ETFs. If prices continue to climb, these funds are set to rake in even more.

Other Bitcoin ETFs also saw inflows, albeit not as substantial as BlackRock's fund. Fidelity's Wise Origin Bitcoin Fund saw inflows of $190.9 million, while ARK's 21Shares Bitcoin ETF had inflows of $17.6 million. These inflows indicate a strong demand from investors seeking to gain exposure to Bitcoin.

In the past, the market was largely dominated by direct Bitcoin trading, but now ETFs are emerging as a significant avenue for people to enter the crypto world.

At the time of writing, Bitcoin's price is hovering around $75,950, up nearly 2% over the last day. With Trump's potential influence on the crypto scene, optimism is running high and we may see more big moves on the horizon. As long as this bullish trend continues, Bitcoin ETFs, spearheaded by BlackRock, are bound to remain in the thick of the action. And who knows, we might just see more records being broken very soon.

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