2024

Bitcoin

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Bitcoin ETFs have passed another major milestone, surpassing $20 billion in total net flows for the first time. This key metric, often considered the most difficult to grow in the ETF world, was reached following a strong week of $1.5 billion in inflows.&nbsp;
By comparison, it took gold ETFs around five years to reach the same milestone. Total assets in Bitcoin ETFs now stand at $65 billion, marking a new high, according to data from Bloomberg's Eric Balchunas.
A visual from the Bloomberg terminal shared by Balchunas highlights the impressive figures, with&nbsp;<a href="https://u.today/760-million-in-3-days-blackrock-bitcoin-etf-hits-new-milestone" rel="noopener noreferrer nofollow">BlackRock's IBIT ETF</a> contributing a notable $22.46 billion in inflows.&nbsp;
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 Bitcoin ETFs have crossed $20b in total net flows (the most imp number, most difficult metric to grow in ETF world) for first time after huge week of $1.5b. For context, it took gold ETFs about 5yrs to reach same number. Total assets now $65b, also a high water mark. <a href="https://t.co/edldEimfqd" rel="noopener noreferrer nofollow">pic.twitter.com/edldEimfqd</a>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1846885254356770924?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 17, 2024</a>
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However, significant outflows from Grayscale's GBTC trust of $20.14 billion wiped out almost half of the gains. Despite this, net inflows remained strong, and Bitcoin ETFs as a whole still surpassed the $20 billion mark.
<h2 dir="ltr" id="new-beginning">New beginning?</h2>
As Balchunas noted, this milestone was primarily driven by the $1.5 billion inflow in the last week alone, a stark contrast to the previous weeks of outflows and negative sentiment on the market. The change in market conditions has revived interest in&nbsp;<a href="https://u.today/veteran-trader-peter-brandt-reveals-when-bitcoin-will-enter-banana-zone" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs, pushing inflows higher and helping the sector regain momentum.
While this achievement is undoubtedly big, we will have to wait and see if it is the start of a new phase for&nbsp;<a href="https://u.today/bitcoin-btc-breakout-confirmed-3-price-levels-to-watch-next" rel="noopener noreferrer nofollow">Bitcoin ETFs</a>. The future trajectory will depend on market conditions and broader trends like politics, despite the recent influx of capital suggesting that investor sentiment may be turning positive.&nbsp;
Either way, the $20 billion milestone is a new benchmark for Bitcoin ETFs and shows that more and more people are interested in investing in cryptocurrencies.

Bitcoin ETFs Celebrate Most Important Milestone to Date

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