Bitcoin Breaks $65K With $365 Million In Spot ETF Inflows Fueling The Rally

Bitcoin has been the subject of recent media attention, not only due to its price increase above $65,000 but also due to the extraordinary inflows into spot Bitcoin ETFs. These inflows, according to Farside Investors, have reached a remarkable $365 million as of September 26, 2024, which is indicative of the increasing institutional interest in the cryptocurrency market. Related Reading: Stacks: New Network Upgrades Push STX Price Up By 18% – Details Record Inflows Amid Market Optimism The biggest daily flow for the month came from BlackRock’s Bitcoin ETF, which surged about $184 million on September 25, 2024. This spike coincides with withdrawals from numerous other ETFs, indicating a significant change in institutional investors’ view. Although there were just $2.1 million in inflows into other platforms such as the Bitwise Bitcoin ETF, BlackRock’s performance is noteworthy and serves as a ray of hope among the market’s volatility. For the past five days, there has been a positive cumulative inflow of around $497 million into US spot Bitcoin ETFs. The Federal Reserve’s recent move to lower interest rates by 50 basis points is partly the reason for this increase since it has prompted investors to look for other assets like Bitcoin. The overall digital asset investment products have also seen a second consecutive week of inflows, totaling approximately $321 million, with BTC being the primary focus, accounting for about $284 million of that total. Institutional Trust And Financial Aspects The present surge of money into Bitcoin ETFs indicates a bigger trend in which institutional investors are beginning to view Bitcoin as a tactical asset. Further supporting the positive outlook are economic factors such the Federal Reserve’s dovish stance, which has calmed investors about likely economic stability. The CEO of CryptoQuant, Ki Young Ju, stressed that strengthening the US’s standing as a pioneer in the cryptocurrency space depends on the increasing demand for spot Bitcoin ETFs. The

Sep 28, 2024 - 06:00

Bitcoin Breaks $65K With $365 Million In Spot ETF Inflows Fueling The Rally

Bitcoin has been the subject of recent media attention, not only due to its price increase above $65,000 but also due to the extraordinary inflows into spot Bitcoin ETFs.

These inflows, according to Farside Investors, have reached a remarkable $365 million as of September 26, 2024, which is indicative of the increasing institutional interest in the cryptocurrency market.

Record Inflows Amid Market Optimism

The biggest daily flow for the month came from BlackRock’s Bitcoin ETF, which surged about $184 million on September 25, 2024.

This spike coincides with withdrawals from numerous other ETFs, indicating a significant change in institutional investors’ view. Although there were just $2.1 million in inflows into other platforms such as the Bitwise Bitcoin ETF, BlackRock’s performance is noteworthy and serves as a ray of hope among the market’s volatility.

For the past five days, there has been a positive cumulative inflow of around $497 million into US spot Bitcoin ETFs. The Federal Reserve’s recent move to lower interest rates by 50 basis points is partly the reason for this increase since it has prompted investors to look for other assets like Bitcoin.

The overall digital asset investment products have also seen a second consecutive week of inflows, totaling approximately $321 million, with BTC being the primary focus, accounting for about $284 million of that total.

Institutional Trust And Financial Aspects

The present surge of money into Bitcoin ETFs indicates a bigger trend in which institutional investors are beginning to view Bitcoin as a tactical asset. Further supporting the positive outlook are economic factors such the Federal Reserve’s dovish stance, which has calmed investors about likely economic stability.

The CEO of CryptoQuant, Ki Young Ju, stressed that strengthening the US’s standing as a pioneer in the cryptocurrency space depends on the increasing demand for spot Bitcoin ETFs.