BlackRock IBIT fund inflows exceed those of the "Seven Sisters"
The inflow of funds into the Bitwise Bitcoin ETF IBIT has surpassed the inflow of funds into the "Seven Sisters of American Stocks" (Microsoft, Apple, Tesla, Amazon, Meta, Alphabet, and Nvidia) stocks, or pushing the price of Bitcoin to reach $88,000 in September. IBIT has accumulated nearly $19 billion worth of Bitcoin from the beginning of the year to date. Jeroen Blockalnd, founder of Blockland Smart Asset Fund, said that this perplexing inflow of funds is even greater than the inflow of funds into the Seven Sisters of American Stocks in 2024. This is more than Invesco's Nasdaq 100 ETF, which includes the seven heavily speculated stocks and the AI boom. In addition, Fidelity's spot Bitcoin ranks 11th, with an inflow of $10 billion.
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