Bloomberg Law
Business & Practice
LinkedIn

BlackRock’s Bitcoin ETF Gets Record Inflow Ahead of US Election

Oct. 31, 2024, 7:29 AM UTC
Sidhartha Shukla
Sidhartha Shukla
Bloomberg News

BlackRock Inc.’s Bitcoin fund posted an unprecedented net inflow as speculation over how the US election may play out stirs demand for the largest digital asset.

Some $872 million poured into the iShares Bitcoin Trust exchange-traded fund on Wednesday, a daily record, data compiled by Bloomberg show. Subscriptions for the nine-month-old product in 2024 are among the highest for ETFs globally.

The inflows into the $31 billion portfolio — the biggest for Bitcoin — point to a so-called Trump trade as pro-crypto Republican nominee Donald Trump is ahead in betting markets in the countdown to Election Day on ...

Learn more about Bloomberg Law or Log In to keep reading:

See Breaking News in Context

Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.

Already a subscriber?

Log in to keep reading or access research tools and resources.