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The rise in Bitcoin also had a positive impact on US spot Bitcoin ETFs, with inflows recorded for four consecutive days.
With the inflows that occurred yesterday, October 16, US spot Bitcoin ETFs exceeded $20 billion in net inflows, while Bloomberg senior ETF analyst Eric Balchunas said in his post that $20 billion was an important turning point.
He also noted that $20 billion is the toughest benchmark for ETFs to surpass, adding that US spot Bitcoin ETFs experienced significant net inflows of $1.5 billion this week.
Comparing Bitcoin ETFs to gold ETFs at this point, Balchunas pointed out that it took spot gold ETFs about five years to reach the same level. In comparison, it took spot Bitcoin ETFs only 10 months to pass the $20 billion net flow milestone. This shows significant investor interest.
<blockquote>
 “Bitcoin ETFs surpassed $20 billion in total net flows (the all-important number, the hardest metric to grow in the ETF world) for the first time after a big week of $1.5 billion.
 For context, it took gold ETFs about 5 years to reach the same number. Total assets for spot Bitcoin ETFs have now reached a new high of $65 billion.”
</blockquote>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 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>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Balchunas reported in a post on X in late September that flows in spot BTC ETFs had reached a record $17.8 billion since the beginning of the year. The analyst also revealed the institutional platforms that hold the most Bitcoin, and noted that Blackrock ranked third on the list.
Related News: <a href="https://en.bitcoinsistemi.com/spot-bitcoin-etfs-are-running-for-a-record-they-will-soon-surpass-satoshi-nakamoto/" target="_blank" rel="noopener noreferrer nofollow">Spot Bitcoin ETFs Are Running for a Record! They Will Soon Surpass Satoshi Nakamoto!</a>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bloomberg-analyst-compares-bitcoin-to-gold-btc-reached-where-gold-reached-in-5-years-in-just-10-months/" rel="noopener noreferrer nofollow">Bloomberg Analyst Compares Bitcoin to Gold: "BTC Reached Where Gold Reached in 5 Years in Just 10 Months!"</a>

Bloomberg Analyst Compares Bitcoin to Gold: "BTC Reached Where Gold Reached in 5 Years in Just 10 Months!"

Bitcoin Sistemi EN

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