BlackRock's Bitcoin ETF reaches 1 million BTC in assets after record inflows

BlackRock's iShares Bitcoin Trust (IBIT) reported record inflows of $872 million on Wednesday, surpassing its previous high from March. This contributed to a total of $893.21 million in net inflows across U.S. spot bitcoin ETFs, the second-highest daily total since their launch. The surge in investments has pushed the total bitcoin holdings of U.S. spot ETFs over 1 million BTC. Analysts suggest that global interest rate changes and political factors may be influencing this increased institutional interest in cryptocurrency. Bitcoin's price is currently around $72,200, close to its all-time high. The significant inflows coincide with MicroStrategy's announcement of a $42 billion Bitcoin purchase plan.