BlackRock's IBIT inflows exceed those of the "Seven Sisters"
Inflows into the 2024 BlackRock Bitcoin ETF IBIT have surpassed those into the "Seven Sisters" (Microsoft, Apple, Tesla, Amazon, Meta, Alphabet, and Nvidia), which could push the price to $88,000 by September.
IBIT has amassed nearly $19 billion in bitcoin since the beginning of the year, according to Jeroen Blockalnd, founder of Blockland Smart Asset Fund. This puzzling inflow is larger than the inflow of the seven sister stocks in 2024. This is more than Invesco's Nasdaq 100 ETF, including the hyped seven stocks and artificial intelligence boom.
Additionally, Fidelity's spot bitcoin ranked 11th, pooling inflows of $10 billion.