Bitcoin spot ETFs in the U.S. saw a remarkable inflow of $880 million in just one day, marking a historic financial event. This surge in investments led to Bitcoin’s value rising above $71,000 amidst a bullish market trend.
Experiencing a strong 3% increase within a 24-hour period, Bitcoin ETFs in the U.S. witnessed a historic surge in investments. The record-breaking inflow of $880 million in a single day is now the second-largest net inflow ever recorded. Following this influx, Bitcoin’s price surged past $71,000 during peak trading hours in Asia.
The CoinDesk 20 index showed a 2.65% rise in major cryptocurrency tokens, with Fidelity’s FBTC ETF leading the surge with an inflow of $378 million, surpassing BlackRock’s IBIT and Grayscale’s GBTC. The recent approval of an ether spot ETF in the U.S. further contributed to 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 stemming from the U.S. presidential campaign. Blockchain expert Collin Brown highlighted this market movement in a recent tweet, emphasizing the substantial inflows into top ETFs like Fidelity, IBIT, ARKB, BITB, GBTC, and HODL. The total net asset value of BTC spot ETFs now stands at an impressive $61.46 billion.
Bloomberg analyst Eric Balchunas noted the recent accumulation of $3.3 billion in ETFs, with a year-to-date net exceeding $15 billion. This increased activity follows the approval of an ether spot ETF and a positive outlook for cryptocurrencies from the ongoing U.S. presidential campaign.
In other news, Grayscale introduced a Bitcoin Mini ETF with a low fee of 0.15%, sparking speculation about whether such fee adjustments can drive Bitcoin’s price to $80,000. Currently trading at $70,954.54, Bitcoin has seen a 3.33% growth in the past day and a 4.86% increase in the past week. For a visual representation and further analysis, refer to the chart below.