The latest influx into US Spot Bitcoin ETFs is making headlines, with these funds seeing net entries surpassing $105.84 million for the fifth day in a row. Data from SoSoValue reveals that BlackRock’s IBIT ETF topped the charts with an impressive $184.38 million in daily net inflows, highlighting strong investor enthusiasm.
The positive trend in bitcoin continued this week. After the news from the US and China, bitcoin is likely to exceed 80 thousand dollars in late 2024. While the positive mood in bitcoin continues, gold and stocks continue to rise. Slowing growth due to economic tightening policies will accelerate by 2025.
Despite certain funds, such as Ark Invest’s ARKB, experiencing outflows totaling $47.41 million, the broader trend continues to show strong positivity. The transaction volume for 12 Spot Bitcoin ETFs has hit $795.88 million, reflecting the growing confidence of institutional investors in Bitcoin’s long-term prospects.
Data Visualization: Bitcoin ETF Inflows Over Time
This chart visualizes the growing inflows into Spot Bitcoin ETFs from January to September 2024. It illustrates how institutional demand has steadily increased, supporting the upward trajectory of Bitcoin’s price.
Analysis of ETF Performance and Its Influence on Bitcoin’s Value
The growing interest from institutions in Bitcoin ETFs has played a significant role in influencing the price fluctuations of the asset. Since January 2024, these investment vehicles have seen total net inflows approaching $17.94 billion, solidifying their role as a significant force within the Bitcoin ecosystem. With the ongoing influx of liquidity into ETFs, Bitcoin’s price could see additional upward movement, reflecting the overall positive trend observed in the cryptocurrency market.
The continuous influx of capital is influencing not only the value of Bitcoin but also shaping how institutions view cryptocurrency as a dependable and stable investment choice. The increasing interest in Bitcoin ETFs is leading to a surge in market liquidity, potentially setting the stage for significant price increases in the future.
Spot Ethereum ETFs Following a Similar Path
Bitcoin is not the sole cryptocurrency gaining from ETF interest. On the same day, Ethereum ETFs experienced a net inflow of $43.23 million, with Grayscale’s Ethereum Mini Trust at the forefront, contributing $26.63 million. This underscores a wider movement as both Bitcoin and Ethereum experience growing interest from conventional financial sectors.
