Bitcoin spot ETFs in the U.S. saw an impressive inflow of $880 million in just one day, marking a historic financial milestone. This surge in investment helped push Bitcoin’s value back above the $71,000 threshold amidst a bullish market trend.
Experiencing a notable 3% increase within a 24-hour period, Bitcoin ETFs in the U.S. witnessed a remarkable surge in investments. The $880 million inflow recorded in a single day stands as the second-largest net inflow ever seen. Following this influx, Bitcoin’s price surged past $71,000 during peak trading hours in Asia.
With the CoinDesk 20 index showing a 2.65% rise in major cryptocurrency tokens, Fidelity’s FBTC ETF led the charge with an influx of $378 million, surpassing BlackRock’s IBIT and Grayscale’s GBTC. The recent approval of an ether spot ETF in the U.S. further fueled this trend, resulting in a total of $3.3 billion flowing into Bitcoin ETFs last month.
Year-to-date investments have now exceeded $15 billion, driven by positive market trends and optimism surrounding the U.S. presidential campaign. Blockchain expert Collin Brown highlighted this market movement in a recent tweet, emphasizing the significant inflows into top ETFs such as Fidelity, IBIT, ARKB, BITB, GBTC, and HODL, bringing the total net asset value of BTC spot ETFs to an impressive $61.46 billion.
In a recent development, Grayscale launched a Bitcoin Mini ETF with a revolutionary low fee of 0.15%, sparking discussions on whether such fee adjustments can propel Bitcoin’s price to reach $80,000. Currently, Bitcoin is trading at $70,954.54, showing a 3.33% growth over the past day and a 4.86% increase over the past week.
Investors are encouraged to watch Today’s CNF YouTube video for more details on Bitcoin market trends and to stay informed about the latest news and updates in the cryptocurrency world.