The inflow of BlackRock's IBIT funds exceeds the inflow of the "US Stock Seven Sisters"
In 2024, the inflow of funds into BlackRock's Bitcoin ETF IBIT has surpassed that of the "US Stock Seven Sisters" (Microsoft, Apple, Tesla, Amazon, Meta, Alphabet and Nvidia). This may push the price of Bitcoin to reach $88,000 by September. Since the beginning of the year, IBIT has accumulated nearly $19 billion in Bitcoin. Jeroen Blockland, founder of Blockland Smart Asset Fund said that this puzzling amount of fund inflow is even larger than that into US Stock Seven Sisters in 2024. It exceeds even Invesco's Nasdaq 100 ETF which includes hyped seven major stocks and AI craze. Moreover,Fidelity's spot bitcoin ranks 11th with an influx of $10 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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