BlackRock IBIT inflows have surpassed the inflows of the "Seven Sisters" in U.S. stocks

2024-07-24 18:07:48

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ChainCatcher news, according to Cointelegraph, the inflow of funds into BlackRock's Bitcoin ETF IBIT in 2024 has surpassed the inflow of funds into the "Seven Sisters" of U.S. stocks (Microsoft, Apple, Tesla, Amazon, Meta, Alphabet, and Nvidia), potentially driving the price of Bitcoin to reach $88,000 by September.

IBIT has accumulated nearly $19 billion in Bitcoin year-to-date, and Blockland Smart Asset Fund founder Jeroen Blockland stated that this perplexing inflow is larger than the inflow into the "Seven Sisters" stocks in 2024.

This is even more than Invesco's Nasdaq 100 ETF, which includes the much-hyped seven stocks and the AI boom. Additionally, Fidelity's spot Bitcoin ranks 11th, gathering $10 billion in inflows.

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