Cryptocurrency

Bitcoin ETF

Propel

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-etf-inflows-propel-cryptocurrency-market-surge/" data-wpel-link="internal">Bitcoin ETF Inflows Propel Cryptocurrency Market Surge</a> 
The <a href="https://en.coin-turk.com/htx-integrates-bitcoin-lightning-network-for-faster-transactions/" data-wpel-link="internal"></a><a href="https://en.coin-turk.com/bitcoin-reaches-66441-with-sudden-increase/" data-wpel-link="internal">cryptocurrency</a> market witnessed significant increases over the weekend, with Bitcoin (BTC) and other <a href="https://en.coin-turk.com/crypto-market-rides-high-as-bitcoin-tests-57000/" data-wpel-link="internal">cryptocurrencies</a> experiencing notable growth. This surge can be attributed to inflows exceeding $2.1 billion into spot Bitcoin ETFs. 
<h2 style="text-align: justify" id="strong-blackrock-s-ibit-etf-gains-attention-strong">BlackRock’s IBIT ETF Gains Attention</h2> 
Throughout the past week, BlackRock‘s IBIT ETF emerged as a standout, accounting for more than half of total inflows. The fund added $1.14 billion to its portfolio, raising its Bitcoin holdings to 386,614.8. This figure amounts to one-third of all Bitcoin inventories held by funds in the United States. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-398934" src="https://coin-turk.com/wp-content/uploads/2024/10/ETF-scaled.jpg" alt="" width="2560" height="306"> 
The growth rate of spot Bitcoin ETFs has surpassed that of gold ETFs. While it took five years for gold ETFs to exceed the $20 billion threshold, spot Bitcoin ETFs reached this goal in just ten months. The interest from pension funds and financial advisors in Bitcoin has played a significant role in this growth, contributing to the price rise of the largest cryptocurrency. 
<h2 style="text-align: justify" id="strong-other-etfs-also-contribute-significantly-strong">Other ETFs Also Contribute Significantly</h2> 
As of October 14, Monday, Fidelity’s FBTC and Bitwise’s BITB ETFs outperformed IBIT in terms of daily net inflows. These inflows amounted to $555.9 million, equivalent to 8,300 BTC. 
While retail investors are beginning to re-enter the market, institutional demand continues to rise. Pension funds and financial advisors in the US are recommending these funds to their high-net-worth clients. 
The rapid growth of spot Bitcoin ETFs indicates that the cryptocurrency market is maturing. The increase in institutional investment is stabilizing the market and facilitating broader acceptance. All these developments allow Bitcoin to gain further traction as a financial instrument. 
The performance of Bitcoin ETFs signals a strengthening integration of cryptocurrencies into traditional financial instruments. The future performance of Bitcoin and other cryptocurrencies will be shaped by this institutional demand. Therefore, it is crucial for investors to closely monitor developments in this area. 
The post <a href="https://en.coin-turk.com/bitcoin-etf-inflows-propel-cryptocurrency-market-surge/" data-wpel-link="internal">Bitcoin ETF Inflows Propel Cryptocurrency Market Surge</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin ETF Inflows Propel Cryptocurrency Market Surge

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