Bitcoin spot ETFs in the U.S. saw a remarkable influx of $880 million in a single day, marking a historic financial event. This surge in investment propelled Bitcoin’s value above $71,000 amidst a bullish market trend.
Within a span of 24 hours, Bitcoin ETFs in the U.S. experienced a significant 3% increase in investments, setting a new record. The $880 million inflow on that day marked the second-largest single-day net inflow ever recorded. Following this influx, Bitcoin’s price surged past $71,000 during peak trading hours in Asia.
The CoinDesk 20 index indicated a 2.65% rise in major cryptocurrency tokens, with Fidelity’s FBTC ETF leading the surge with a $378 million inflow, surpassing BlackRock’s IBIT and Grayscale’s GBTC. The recent approval of an ether spot ETF in the U.S. further boosted 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 in a recent tweet, emphasizing the substantial inflows into top ETFs. The total net asset value of BTC spot ETFs currently 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 increased activity follows the approval of an ether spot ETF and a generally positive outlook for cryptocurrencies from the ongoing U.S. presidential campaign.
Furthermore, Grayscale recently introduced a Bitcoin Mini ETF with a low fee of 0.15%, sparking discussions on whether such fee adjustments could drive Bitcoin’s price to $80,000. Bitcoin is currently trading at $70,954.54, with a 3.33% growth over the past day and a 4.86% increase over the past week.
For more insights, watch Today’s CNF YouTube video for a detailed analysis of investor confidence and market trends. The tweet from Collin Brown provides expert insights and contextualizes the market movements and trends.