---
title: "Bitcoin’s Rise Accompanies Surge in BlackRock ETF Inflows"
publisher: "Share Talk"
author: "sharetalk"
published: "2024-02-09T11:15:00+00:00"
modified: "2024-02-09T11:15:00+00:00"
date: 2024-02-09
canonical: "https://www.share-talk.com/bitcoins-rise-accompanies-surge-in-blackrock-etf-inflows/"
category: "Blogs"
categories: ["Blogs", "Fintech"]
tags: ["Binance", "Bitcoin", "BNB", "BTC", "cryptocurrency", "DOGE", "Dogecoin", "Elon Musk", "ETFs", "ETH", "Ethereum", "Litecoin", "LTC", "Ripple", "SEC", "SOL", "Solana", "TSLA", "US Securities and Exchange Commission", "USA", "XRP"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/12/BTC-22_12_23.jpg?fit=1200%2C800&ssl=1"
format: "news"
language: "en-GB"
---

# Bitcoin’s Rise Accompanies Surge in BlackRock ETF Inflows

**Published:** February 9, 2024
**Author:** sharetalk
**Categories:** Blogs, Fintech
**Tags:** Binance, Bitcoin, BNB, BTC, cryptocurrency, DOGE, Dogecoin, Elon Musk, ETFs, ETH, Ethereum, Litecoin, LTC, Ripple, SEC, SOL, Solana, TSLA, US Securities and Exchange Commission, USA, XRP
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/12/BTC-22_12_23.jpg?fit=1200%2C800&ssl=1)

---

Bitcoin (BTC) soared an additional 3% against the US dollar in the early trades of Friday, marking a strong week for the leading cryptocurrency.

Comparing week-to-week, the BTC/USD pair has risen over 8%, reaching a current price of $46,500, as it successfully surpassed the 50-day moving average (MA) trend line.

Initially, in early February, the 50-day MA posed a challenge for Bitcoin’s upward momentum, but a consistent three-day climb has now left that barrier far behind.

A key factor in Bitcoin’s recent surge is the significant inflows into BlackRock’s iShares Bitcoin Trust (IBIT).

Since its debut on the New York stock market nearly a month ago, BlackRock’s bitcoin-focused exchange-traded fund (ETF) has attracted inflows of $3.3 billion, as per the latest figures from Bloomberg.

In comparison, Fidelity’s similar offering, the Wise Origin Bitcoin Fund (FBTC), has amassed over $2.8 billion.

Despite some dampening effects from notable withdrawals from the Grayscale Bitcoin Trust (BTC), the burgeoning Bitcoin ETF market is having a positive impact on Bitcoin’s spot price.

Ethereum (ETH), ranking second in the cryptocurrency market, saw a 2% increase against the US dollar on Friday morning, reaching a spot price of $2,470.

Solana (SOL) also experienced notable movement on Friday morning, with the SOL/USD pair rising by 2.4%.

Other cryptocurrencies like Cardano (ADA) and Avalanche (AVAX) were active as well, each gaining approximately 2%.

The total market capitalization of cryptocurrencies globally is presently at $1.76 trillion, with Bitcoin’s market dominance at 53.4%

---

**Original URL:** https://www.share-talk.com/bitcoins-rise-accompanies-surge-in-blackrock-etf-inflows/
*Created by [WP Markdown Endpoint](https://wpmarkdownendpoint.com/)*