Spot Bitcoin exchange-traded funds (ETFs) in the U.S. achieved a remarkable $893.21 million in net inflows on Wednesday, marking the second-highest figure on record. BlackRock’s iShares Bitcoin Trust (IBIT) led the surge, seeing an impressive $872 million in net inflows—the highest single-day total since its January launch, surpassing the previous record set on March 12, as reported by SoSoValue.
Broader Interest in Bitcoin Spot ETFs Beyond BlackRock’s IBIT, additional U.S.-based Bitcoin spot ETFs reported smaller yet positive inflows. Fidelity’s FBTC garnered $12.57 million in new investments, while Ark Invest and 21Shares’ ARKB, VanEck’s HODL, and Invesco’s BTCO each recorded under $8 million in inflows. Bitwise’s BITB fund, however, saw a net outflow of $23.89 million, with Grayscale’s GBTC remaining unchanged.
Total trading volume for these Bitcoin ETFs reached $1.97 billion on Wednesday, a dip from Tuesday’s $4.75 billion. However, strong net inflows lifted cumulative net inflows for U.S. Bitcoin ETFs to $24.18 billion, underscoring sustained investor interest in digital asset funds.
Political Factors Fueling Bitcoin ETF Growth Market analysts attribute the recent uptick in capital to favorable market conditions coupled with current political dynamics. With the U.S. presidential election on November 5, investors are seeking stability in Bitcoin as a hedge against potential policy shifts. Additionally, betting platform Polymarket shows former President Donald Trump leading, while polling data from FiveThirtyEight gives Vice President Kamala Harris a slight edge, adding uncertainty and enhancing Bitcoin’s appeal as a stable investment amid shifting economic and political climates.
Bitcoin Price Trends Amid ETF Inflows On Wednesday, Bitcoin traded at $72,300, a slight decline of 0.28%, yet remained near its all-time high of around $73,500 reached earlier in the week. The crypto market anticipates upcoming Federal Reserve decisions and significant tech earnings reports after the election for additional insights into future trends.
Bitcoin Spot ETFs Set to Surpass Satoshi Holdings Bloomberg’s Senior ETF Analyst Eric Balchunas remarked that IBIT’s recent inflows could push total Bitcoin holdings across U.S. spot ETFs past 1 million BTC. He anticipates that by the end of November, Bitcoin spot ETFs may collectively hold more Bitcoin than any single entity, including the estimated 1.1 million BTC attributed to Bitcoin’s creator, Satoshi Nakamoto.
While Bitcoin ETFs have garnered substantial inflows, spot Ether ETFs saw a modest net inflow of $4.36 million, led by Fidelity’s FETH with $5.32 million. Ether ETFs registered a trading volume of $220 million on Wednesday, which fell below early expectations.
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