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.
https://twitter.com/BTC_Archive/status/1846895484377383047
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.
BlackRock 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.
The post Bitcoin ETFs Surpass $20 Billion in Inflows as Investor Confidence Grows appeared first on Crypto News Land.
