Bitcoin spot ETFs in the U.S. saw a remarkable inflow of $880 million in just one day, marking a historic financial event. This surge in investment propelled Bitcoin’s value above the $71,000 threshold in a bullish market environment.
Within a span of 24 hours, Bitcoin ETFs in the U.S. experienced a significant uptick of 3%, showcasing a historic surge in investments. The $880 million inflow on a single day set a new record as the second-largest net inflow ever witnessed. Following this influx, Bitcoin’s price surged past $71,000 during peak trading hours in Asia.
The CoinDesk 20 index exhibited a 2.65% increase in major cryptocurrency tokens, with Fidelity’s FBTC ETF leading the charge by attracting $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.
This robust growth has pushed year-to-date investments to over $15 billion, driven by positive market conditions and optimism stemming from the U.S. presidential campaign. Notably, blockchain expert Collin Brown highlighted the market movement in a recent tweet, emphasizing the substantial inflows into top ETFs like Fidelity, IBIT, ARKB, BITB, GBTC, and HODL, with the total net asset value of BTC spot ETFs now standing at an impressive $61.46 billion.
In a breaking development, Bitcoin spot ETFs witnessed a significant inflow of $887 million on June 4, marking the second-highest single-day net inflow in history and pushing BTC’s price back above $71,000. Analyst Eric Balchunas from Bloomberg noted that the recent weeks have seen ETFs accumulate $3.3 billion, with a year-to-date net exceeding $15 billion. This uptrend follows the approval of an ether spot ETF and positive sentiment around cryptocurrencies from the U.S. presidential campaign.
Amidst a shift in market sentiment after a period of mixed performances, the YouTube video mentioned in the second paragraph underscores investor confidence, while Collin Brown’s tweet in the third paragraph provides expert insights and contextualizes market trends.
Looking ahead, Grayscale’s launch of a Bitcoin Mini ETF with a low fee of 0.15% raises speculation on whether strategic fee adjustments can propel Bitcoin’s price towards the $80,000 mark. Currently, Bitcoin is trading at $70,954.54, showing a growth of 3.33% in the past day and a 4.86% increase over the week. For further analysis and visual representation, refer to the accompanying chart below.