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BlackRock Bitcoin ETF Could Reach $100 Billion in July, Analyst Predicts
In a surprising turn of events, the BlackRock Bitcoin ETF (IBIT) has shown unprecedented growth, and analysts are now predicting it could reach a staggering $100 billion in assets under management by the end of this month. This prediction comes on the back of nearly $1 billion in inflows on July 11 alone, further propelling its value.
According to Bloomberg, the ETF’s rapid expansion is fueled by strong market momentum and rising institutional demand. This influx of capital has propelled it past numerous benchmarks, solidifying its position as a dominant player in the cryptocurrency space.
As per recent reports, the ETF now holds over 700,000 BTC, representing approximately 3.60% of Bitcoin’s total circulating supply. This remarkable growth has led to whispers of a possible $100 billion milestone in assets under management by July’s end.
It is crucial to note that IBIT’s performance and consistency have garnered significant attention from institutional investors, who are increasingly shifting their focus toward cryptocurrency-backed financial products. This trend, as forecasted by Bloomberg analysts, will undoubtedly propel the ETF further ahead of its competitors.
In conclusion, it appears likely that this ETF will break the $100 billion threshold in the coming days, considering the immense influx of capital and consistent growth rate over the past few months.
Source: coincentral.com
