BlackRock adds over $100m in Bitcoin as BTC hits $71k

BlackRock’s iShares Bitcoin Trust ETF ( IBIT ) opened this week on Monday with a net cash inflow as Bitcoin ( BTC ) price rebounded above $71,000 on Tuesday, March 10. The IBIT, which has more than $53.2 billion in net assets under management (AUM), recorded a net cash inflow of about $109.31 million on Monday. As such, the IBIT has now reached a cumulative net inflow of over $62.58 billion at press time. BlackRock’s IBIT 7D performance. Source: SoSoValue The renewed demand for BTC by BlackRock, which has more than $11 trillion in AUM, helped the flagship coin rally 3.61% in the last 24 hours to trade about $71,410 at the time of this publication. BTC 24hr performance. Source: Finbold BlackRock dominates spot Bitcoin net inflows BlackRock’s IBIT heavily dominated the net cash inflows of spot BTC Exchange-Traded Funds (ETFs) on Monday, based on data from SoSoValue . The net cash inflow to the U.S. spot BTC ETFs was about $167.03 million, whereby Fidelity’s FBTC posted around $60.09 million on Monday. U.S. spot BTC ETF Daily Cash inflows. Source: SoSoValue As such, the total net assets of the U.S. spot BTC ETFs surged to $88.34 billion. The post BlackRock adds over $100m in Bitcoin as BTC hits $71k appeared first on Finbold .