As a seasoned researcher with over two decades of experience in the financial markets, I can confidently say that the recent inflow of half a billion dollars into United States spot Bitcoin exchange-traded funds (ETFs) is nothing short of extraordinary. This is not just a ‘degen retail’ phenomenon; it’s advisers and institutional investors slowly but surely adopting this digital asset class.
On a notable day recently, U.S.-based Bitcoin exchange-traded funds (ETFs) experienced the largest influx of money in more than four months, amounting to approximately $500 million.
On October 14th, the combined total of 11 ETFs experienced their highest single-day net influx of approximately $555.9 million since early June, as reported by data from Farside Investors.
On October 14th, towards the end of the trading day, Bitcoin (BTC) reached its highest point in two weeks at around $66,500.
As an analyst, I’d express it like this: “Today was a monumental day for Bitcoin Spot ETFs, with net inflows surging towards an impressive $20 billion over the past ten months, according to ETF Store President Nate Geraci.
He stated in a post on October 15 that it was completely unbelievable and surpassed every expectation set before the launch. This isn’t just small-time investors, but rather financial advisors and large institutions gradually adopting this.
Among various investment funds, the Fidelity Wise Bitcoin Origin Fund (FBTC) stood out by attracting a record-breaking $239.3 million in investment – a figure not seen since June 4.
Compared to the Bitwise Bitcoin ETF (BITB), which held approximately $100 million, the BlackRock’s iShares Bitcoin Trust (IBIT) experienced an inflow of around $79.6 million in investments.
21Shares Bitcoin ETF (ARKB) experienced approximately $70 million in investments, while the Grayscale Bitcoin Trust (GBTC) recorded its first investment influx this month totaling $37.8 million – which is its highest since early May.
On October 14th, as stated in a post on X, Bloomberg’s senior ETF analyst Eric Balchunas likened Bitcoin ETFs to gold-based products. Since the beginning of these BTC funds in January, Bitcoin has achieved new record highs no less than five times.
As a seasoned investor with several decades of experience under my belt, I’ve seen my fair share of market trends come and go. However, this year has truly been a game-changer when it comes to gold and Bitcoin. Despite gold reaching record highs no less than 30 times in 2021, the inflow into gold ETFs has only amounted to a mere $1.4 billion compared to a staggering $19 billion for Bitcoin ETFs. This trend is certainly intriguing and speaks volumes about the evolving investment landscape.
As a researcher examining investment trends, I’ve noticed that Ethereum-focused funds have not been experiencing the same level of momentum lately. Specifically, there have been zero net inflows for Bitwise, VanEck, Franklin Templeton, and Grayscale, with only minimal flows for Fidelity and Invesco.
The BlackRock iShares Ethereum Trust (ETHA) had an inflow of $14.3 million, bringing the total to $17 million.
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2024-10-15 07:26