The recent price drop of Bitcoin could not hold BlackRock’s IBIT down as the fund saw an impressive $329 million worth of inflows yesterday.

Investors in BlackRock’s iShares Bitcoin Trust (IBIT) have bought the dip, sending $329 million in inflows to the fund on Oct. 21 after Bitcoin slipped 3% in a day. The Fidelity Wise Origin Bitcoin Fund (FBTC) was the only other United States spot Bitcoin ETF to record an inflow of $5.

BlackRock's Bitcoin ETF garners $329 million in new investments, maintaining strong market presence despite Bitcoin's price dip.

In the last five trading days, spot bitcoin ETFs have seen net inflows of more than $2.1 billion, with BlackRock accounting for half of those sales. Of the 80% of direct investors buying IBIT, BlackRock's chief investment officer of ETFs and index investments says 75% had never before owned an iShare.

With the SEC's approval of options for spot Bitcoin ETFs, analysts expect another wave of institutional adoption and associated volatility.

Impressively,7, BlackRock's IBIT amassed net inflows of $309 million, bringing the net US Bitcoin ETFs inflow to over $470 million.

BlackRock’s Bitcoin ETF received more than $1.05 b in the past five trading days as investors continue to show more interest in the spot products.

This week, BlackRock’s spot Bitcoin ETF has taken in over $1 billion alone, representing its sixth largest week of inflows on record based on partial-week data. But the trend isn’t limited to just the Wall Street titan’s product, Butterfill said, with notable inflows across those from several asset managers.