The cryptocurrency market is currently buzzing with optimism as the uptake of Bitcoin spot ETFs continues to grow. These exchange-traded funds have been embraced by the market, with consistent injections of capital, and the recent surge in investments has caught the attention of renowned investor Anthony Scaramucci. The famed hedge fund manager has publicly acknowledged BlackRock’s recent success with its Bitcoin ETF.
Scaramucci Highlights BlackRock’s Milestone
Anthony Scaramucci, the founder of SkyBridge Capital, praised BlackRock, indicating that the firm has achieved a significant milestone with its Bitcoin ETF inflows. BlackRock’s ETF, known as IBIT, has registered a remarkable rise in inflows, hitting the $5 billion threshold.
Since launching on January 11, IBIT’s initial inflows stabilized at $3 billion for the initial month. Scaramucci emphasized that as of mid-February, funds managed by IBIT were just under $4.7 billion, and now the ETF has officially crossed the $5 billion mark.
Spot Bitcoin ETFs Attract Major Investments
Recent data shared by investment figures shows a surge in daily inflows into spot Bitcoin ETFs. Alastair Milne, CIO of Altana Digital Currency Fund, detailed that inflows surpassed $631.3 million in a single day. Scaramucci, who maintains an optimistic view on major cryptocurrencies such as Bitcoin and Ethereum, countered the opinion of some analysts who view the $5 billion influx as underwhelming, accusing them of fostering negativity in the market.
Furthermore, Anthony Pompliano has also remarked on the achievements of spot Bitcoin ETFs, noting that BlackRock and Fidelity have set a new 30-year record in ETFs by amassing $3 billion in net inflows within their first month of operations, a feat unparalleled in the history of over 5,500 ETF launches.
The surge in ETF inflows has coincided with an uptick in Bitcoin’s value, with the cryptocurrency breaching the $52,000 price point. At the time of reporting, Bitcoin’s price has settled slightly lower at $51,934.