Bitcoin spot ETFs in the U.S. saw an astonishing 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 during a bullish market trend, showcasing a remarkable 3% increase within a 24-hour period. This surge in investments has set a new record, with the second-largest single-day net inflow ever recorded.
Following this influx, Bitcoin’s price skyrocketed past $71,000 during peak trading hours in Asia, reflecting accelerated growth and increased investor confidence in the cryptocurrency market. The CoinDesk 20 index revealed a 2.65% increase in major cryptocurrency tokens, driven by significant investments in top ETFs such as Fidelity’s FBTC, BlackRock’s IBIT, and Grayscale’s GBTC. The recent approval of an ether spot ETF in the U.S. further fueled this trend, with a total of $3.3 billion flowing into Bitcoin ETFs last month.
Year-to-date investments have now surpassed $15 billion, driven by positive market trends and optimism surrounding the U.S. presidential campaign. Blockchain expert Collin Brown highlighted this market movement, emphasizing the substantial inflows into key ETFs like Fidelity, IBIT, ARKB, BITB, GBTC, and HODL. The total net asset value of BTC spot ETFs now stands at an impressive $61.46 billion.
Bloomberg analyst Eric Balchunas noted that ETFs have accumulated $3.3 billion in recent weeks, with a year-to-date net exceeding $15 billion. This surge in activity follows the approval of an ether spot ETF and reflects a positive outlook for cryptocurrencies amidst the ongoing U.S. presidential campaign. Market sentiment has shifted significantly, with robust inflow data signaling a promising future for Bitcoin.
In a recent development, Grayscale launched a Bitcoin Mini ETF with a low fee of 0.15%, raising speculation about the potential impact of strategic fee adjustments on Bitcoin’s price, possibly leading it to reach $80,000. Currently, Bitcoin is trading at $70,954.54, with a growth of 3.33% in the past day and 4.86% in the past week. For a visual representation and further analysis, refer to the accompanying chart below.
