Bitcoin ETFs Surpass $20 Billion in Inflows as Investor Confidence Grows
- Spot Bitcoin ETFs exceed $20B in inflows, driven by rising investor demand and market confidence.
- BlackRock’s iShares Bitcoin Trust leads the surge, with $393M daily inflows on October 16.
- Bitcoin ETFs hit $20.26B as Bitcoin price climbs past $65,000, fueling strong investor interest.
Bitcoin ETFs in the US have seen a rise in inflows, surpassing $20 billion. These funds have seen a continuous increase in investment over the past four days, with a total of $1.64 billion flowing in.
Since the spot Bitcoin ETFs first launched on January 10 this year, they have been gaining significant traction. The world’s largest asset manager, BlackRock , has had massive daily inflows. Inflows into BlackRock’s iShares Bitcoin Trust (IBIT) hit a staggering $393.4 million on October 16.
This is the largest daily inflow since July 22 when the fund received $526.7 million. BlackRock’s ETF has played a significant role in fueling the rapid growth of the sector, with the company taking the lead in total inflows.
Major Contributions from Leading Players
Alongside BlackRock, other prominent ETF providers have also made significant contributions. These include ARK, 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity, Valkyrie, Grayscale, Bitwise, Hashdex, and Franklin Templeton . Collectively, these 11 providers have propelled total inflows to the impressive $20.26 billion figure.
The cumulative inflows milestone coincides with Bitcoin’s price surpassing $67,000, a key level market analysts had been monitoring. After briefly dipping below this level on September 30, Bitcoin has rebounded. Recent price surge and ETF inflows have been driven by increasing investor confidence in the digital asset.
Read CRYPTONEWSLAND on google newsBlackRock Leads ETF Inflows
BlackRock’s iShares Bitcoin Trust is currently the leader in total inflows, with $22.4 billion accumulated. Meanwhile, Fidelity’s FBTC follows closely behind with $10.2 billion, and ARK 21Shares rounds out the top three.
Interestingly, not all ETFs have experienced positive inflows. Both the Hashdex Bitcoin ETF (DEFI) and Grayscale’s GBTC have seen outflows this year, with DEFI experiencing $1.79 million in outflows and GBTC recording $20.1 billion in withdrawals.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
AI crypto tokens face mixed performance in market
Arbitrum targets $1.30 with eyes on $2.42 breakthrough
Spot Ethereum ETFs see record $515M weekly inflows
Shiba Inu shows volatility after recent Golden Cross