Bitcoin

Bitcoin ETF

The post <a href="https://cryptosnewss.com/bitcoin-etfs-surge-past-20-billion/" rel="noopener noreferrer nofollow">Bitcoin ETFs Surge Past $20 Billion, How High Can Bitcoin Go? </a>appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.Spot Bitcoin exchange-traded funds (ETFs) have surpassed $20 billion in total inflows, with Bitcoin&#39;s price hovering around the $67,000 mark. This milestone underscores the growing institutional interest in Bitcoin and the potential for further market growth.The spot<a href="https://cryptosnewss.com/bitcoin-etf-inflows-to-surge-with-trump-victory/" rel="noopener noreferrer nofollow"> Bitcoin ETFs</a>, launched earlier this year after securing approval from the U.S. Securities and Exchange Commission (SEC), have seen significant inflows.BlackRock&#39;s iShares Bitcoin Trust (IBIT) leads the pack, which has amassed $22.4 billion in inflows. According to data from Bloomberg&#39;s senior ETF analyst Eric Balchunas, these funds reached the $20 billion mark after witnessing more than $1.5 billion of inflows over the past week, during which Bitcoin&#39;s price surged by over 10% to nearly $67,000.Following IBIT, Fidelity&#39;s FBTC has garnered $10.2 billion in inflows, and the ARK 21Shares Bitcoin ETF has also seen substantial interest. However, not all spot Bitcoin ETFs have fared well. The Hashdex Bitcoin ETF (DEFI) and Grayscale&#39;s GBTC have experienced outflows, with $1.79 million and $20.1 billion, respectively.<blockquote>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 (&#64;EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1846885254356770924?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">October 17, 2024</a></blockquote>This influx of capital into Bitcoin ETFs reflects growing confidence in Bitcoin as a long-term investment. Institutional investors are increasingly turning to these ETFs to gain exposure to the cryptocurrency market without the complexities associated with direct ownership.The SEC&#39;s approval of these ETFs has provided a level of legitimacy and security that has attracted significant investment.As spot Bitcoin ETFs continue to attract substantial inflows, the potential for further market growth remains high. The combination of institutional interest and regulatory approval has created a favorable environment for Bitcoin and other cryptocurrencies.Investors and market participants will be closely monitoring developments in the ETF space and broader market trends to make informed decisions. Staying informed and adaptable will be key to navigating the dynamic and evolving cryptocurrency landscape.The post <a href="https://cryptosnewss.com/bitcoin-etfs-surge-past-20-billion/" rel="noopener noreferrer nofollow">Bitcoin ETFs Surge Past $20 Billion, How High Can Bitcoin Go?</a> appeared first on Cryptos Newss.

Bitcoin ETFs Surge Past $20 Billion, How High Can Bitcoin Go?

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