According to @thepfund, a crypto quant trader who tracks fund flows in US-listed digital asset spot ETFs, BlackRock's bitcoin spot ETF, ticker IBIT, saw inflows of $393 million on Oct. 16. It's the largest single-day inflow since July 22 ($526 million). The inflow suggests that institutional investors are still interested in gaining exposure tobitcoin despite the recent market downturn. BlackRock's IBIT ETF is the first spot bitcoin ETF approved by the U.S. Securities and Exchange Commission (SEC). It launched on Oct. 20, 2022, and has seen strong demand from investors. The IBIT ETF provides investors with a convenient and regulated way to gain exposure to bitcoin. The ETF is backed by physical bitcoin held in custody by Coinbase. Investors can buy and sell shares of the ETF on the New York Stock Exchange. The recent inflow into the IBIT ETF is a positive sign for the bitcoin market. It suggests that institutional investors are still confident in the long-term potential of bitcoin.

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