A historic financial movement was seen in the U.S. with Bitcoin spot ETFs receiving a massive $880 million inflow in just one day. This surge in investments led to Bitcoin’s value surpassing the $71,000 mark during a bullish market trend.
Within a span of 24 hours, Bitcoin ETFs in the U.S. witnessed a remarkable 3% increase in investments, setting a new record. The single-day inflow of $880 million marked the second-largest net inflow ever recorded. Following this influx, Bitcoin’s price soared above $71,000 during peak trading hours in Asia.
Investor confidence and accelerated growth were evident as the CoinDesk 20 index showed a 2.65% rise in major cryptocurrency tokens. Fidelity’s FBTC ETF led the surge with $378 million inflow, surpassing BlackRock’s IBIT and Grayscale’s GBTC. The recent approval of an ether spot ETF in the U.S. further fueled this trend, with a total of $3.3 billion flowing into Bitcoin ETFs last month.
Year-to-date investments have now exceeded $15 billion, driven by positive market trends and optimism from the U.S. presidential campaign. Expert insights from Collin Brown highlighted the market movement, emphasizing substantial inflows into top ETFs like Fidelity, IBIT, ARKB, BITB, GBTC, and HODL. The total net asset value of BTC spot ETFs stands at an impressive $61.46 billion.
Analyst Eric Balchunas noted the recent accumulation of $3.3 billion in ETFs, with a year-to-date net surpassing $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.
Grayscale’s launch of a Bitcoin Mini ETF with a low fee of 0.15% has sparked discussions about whether strategic fee adjustments can drive Bitcoin’s price to $80,000. Currently, Bitcoin is trading at $70,954.54, with a growth of 3.33% over the past day and 4.86% over the past week. For a visual representation and further analysis, refer to the accompanying chart.
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