As a seasoned European crypto investor with a knack for spotting trends, I find the recent surge of capital into U.S. Bitcoin ETFs by fellow Europeans nothing short of intriguing. With over $105 billion invested YTD, it’s clear that the allure of Bitcoin is stronger than ever across the pond.
U.S.-listed Bitcoin ETFs have seen a historic surge in investment from European capital sources.
So far this year, Europeans have poured approximately $105 billion into Bitcoin (BTC) Exchange-Traded Funds (ETFs), setting a new record high.
According to Eric Balchunas, a senior ETF analyst at Bloomberg, he recently disclosed that the highest-ever European ETF inflows occurred. This information was posted on October 21st.
“Flows into US-focused ETFs by locals in Europe is now at a record $105b YTD. And why not? $SPY is up 24% vs 10% for Europe. Asia also funneling record flows.”
Increased investments in Bitcoin ETFs might propel Bitcoin to a fresh record peak, as it currently advances steadily. Approximately 75% of the new funds driving Bitcoin above $50,000 in February 2024 were channeled into US-based Bitcoin ETFs.
Regardless of the significant European investments pouring in, Bitcoin‘s value has yet to surpass the $70,000 symbolic threshold, a level last seen on Bitstamp exchange on July 29.
This is a developing story, and further information will be added as it becomes available.
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2024-10-21 16:25