BlackRock IBIT fund inflows exceed those of the "Seven Sisters"

BlockBeats news, on July 24, Cointelegraph reported that the inflow of funds into BlackRock's Bitcoin ETF IBIT in 2024 has exceeded the inflow of funds into the "Seven Sisters of US Stocks" (Microsoft, Apple, Tesla, Amazon, Meta, Alphabet and Nvidia) stocks, which may push the price of Bitcoin to $88,000 by September.

IBIT has accumulated nearly $19 billion in Bitcoin since the beginning of the year. Jeroen Blockalnd, founder of Blockland Smart Asset Fund, said that this puzzling inflow of funds is greater than the inflow of the "Seven Sisters of US Stocks" stocks in 2024.

“This is more than Invesco’s Nasdaq 100 ETF, including the seven hyped stocks and the AI craze. In addition, Fidelity’s spot Bitcoin ranked 11th, gathering $10 billion in inflows.”