BITCOIN ETFS CROSS THE $20 BILLION BARRIER
Bitcoin spot ETFs have achieved remarkable success by exceeding $20 billion in total net inflows since their launch in January 2024. This development accelerated especially with the $1.5 billion inflow in the last week, and Bitcoin's price rose to $67,000. BlackRock's iShares Bitcoin Trust (IBIT) led with $22.4 billion, while Fidelity's FBTC came in second with $10.2 billion. On the other hand, funds such as the Hashdex Bitcoin ETF (DEFI) and Grayscale GBTC experienced significant outflows during the year.
This performance shows that Bitcoin ETFs are rapidly gaining acceptance as an investment vehicle. In comparison, gold ETFs took around five years to reach this net inflow of $20 billion. However, spot Bitcoin ETFs surpassed this level in just nine months, reaching a total asset value of $65 billion. This success is also supported by the increasing interest of institutional investors and advisors.
As a result, Bitcoin ETFs continue to revolutionize the crypto market and are expected to grow even more in the near future.
#escoin #binance #elg #escointoken $BTC $ETH
Source:
âą Cryptoglobe, 2024. Spot Bitcoin ETFs Surpass $20 Billion in Inflows as Price Hovers $67,000 Mark. Accessed: October 18, 2024.
âą IBTimes, 2024. 9-Month Old Bitcoin ETFs Pass $20B In Total Net Flows. Accessed: October 18, 2024.
âą Cointelegraph, 2024. US spot Bitcoin ETFs see $556M inflows in biggest day since June. Accessed: October 18, 2024.
