BlackRock’s iShares Bitcoin Trust (IBIT), a Nasdaq-listed exchange-traded fund (ETF) tracking the cryptocurrency’s spot price, attracted $526.7 million in investor funds on Monday, according to preliminary data from Farside Investors.
This marks the highest single-day inflow since March, as reported by data source Coinglass. Since its launch on January 11, BlackRock’s IBIT has amassed nearly $19.5 billion in total investor funds.
In contrast, the remaining 10 U.S.-listed Bitcoin ETFs saw a net inflow of just $6.9 million on Monday, indicating a significant preference for BlackRock’s offering among investors.
Bitcoin briefly surpassed the $68,000 mark on Monday, its highest level in over a month. This bullish movement coincided with rumors that pro-crypto Republican U.S. presidential candidate Donald Trump might announce a more substantial role for Bitcoin in the financial system at the upcoming Nashville Bitcoin conference later this month.
Despite this surge, Bitcoin buyers were unable to break through the trendline connecting the March and April highs, leading to a potential pullback. A similar scenario in late May saw the cryptocurrency drop below $55,000 after failing to establish support above the resistance line.
At the time of writing, Bitcoin was trading at $66,440, reflecting a 1.8% decrease over the past 24 hours.
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