Bitcoin ETF

Bitcoin

when

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Yesterday, BTC ETFs recorded significant inflows led by BlackRock’s IBITat almost $643 million.</li> 
 <li>BTC is now trading above $72,000 following new price heights.</li> 
</ul> 
Bitcoin briefly surpassed its previous ATH on October 29, fuelled by the biggest inflow day in US BTC ETFs since June. 
At the moment of writing this article, BTC is trading above $72,000, up by 2% in the past 24 hours. 
<figure id="attachment_52456" aria-describedby="caption-attachment-52456" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-2024-10-30T092222.579.jpeg"><img loading="lazy" decoding="async" class="wp-image-52456 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-2024-10-30T092222.579.jpeg" alt="BTC price in USD today" width="1200" height="800" title="Bitcoin Price Hit a New ATH Above $73,500 20" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-2024-10-30T092222.579.jpeg 1200w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-2024-10-30T092222.579-300x200.jpeg 300w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-2024-10-30T092222.579-1024x683.jpeg 1024w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-2024-10-30T092222.579-768x512.jpeg 768w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-2024-10-30T092222.579-750x500.jpeg 750w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-2024-10-30T092222.579-1140x760.jpeg 1140w" sizes="(max-width: 1200px) 100vw, 1200px"></a>
 <figcaption id="caption-attachment-52456" class="wp-caption-text">
 BTC price in USD today
 </figcaption>
</figure> 
Yesterday, BTC climbed above $73,540, before dropping back below $72,000. The coin’s previous ATH was reached back in March when the coin traded around $73,400. 
Multiple factors triggered BTC’s price surge, including significant inflows in the US-based BTC ETFs. 
<h2 id="btc-etfs-inflows-on-october-29">BTC ETFs Inflows on October 29</h2> 
Yesterday, BTC ETFs saw inflows of over $870 million as follows: 
<ul> 
 <li>BlackRock’s Bitcoin ETF, IBIT, recorded almost $643 million in inflows.</li> 
 <li>Fidelity’s Bitcoin ETF, FBTC, saw almost $134 million in inflows.</li> 
 <li>Bitwise’s Bitcoin ETF, BITB, recorded $52.5 million in inflows.</li> 
 <li>Grayscale’s Bitcoin ETF, BTC, saw over $29 million in inflows.</li> 
 <li>VanEck’s Bitcoin ETF, HODL, recorded $16.5 million in inflows.</li> 
 <li>Ark Invest and 21Shares’ Bitcoin ETF, recorded $12.3 million in inflows.</li> 
</ul> 
The only Bitcoin ETF that recorded outflows was Grayscale’s GBTC at $17.3 million. The other crypto products did not see any inflows or outflows the other day. 
October 29 marked the most significant inflow day in the crypto products since June 4th when they saw over $886 million in inflows. 
<figure id="attachment_52457" aria-describedby="caption-attachment-52457" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/30oct.png"><img loading="lazy" decoding="async" class="wp-image-52457 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/30oct.png" alt="SoSoValue data" width="1462" height="513" title="Bitcoin Price Hit a New ATH Above $73,500 21" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/30oct.png 1462w, https://crypto.ro/en/wp-content/uploads/2024/10/30oct-300x105.png 300w, https://crypto.ro/en/wp-content/uploads/2024/10/30oct-1024x359.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/10/30oct-768x269.png 768w, https://crypto.ro/en/wp-content/uploads/2024/10/30oct-750x263.png 750w, https://crypto.ro/en/wp-content/uploads/2024/10/30oct-1140x400.png 1140w" sizes="(max-width: 1462px) 100vw, 1462px"></a>
 <figcaption id="caption-attachment-52457" class="wp-caption-text">
 SoSoValue data
 </figcaption>
</figure> 
The total net assets locked in BTC ETFs as of October 29 were over $72.5 billion, while the cumulative net flows in the crypto products since their January debut surpassed $23.2 billion. 
According to <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="nofollow noopener" target="_blank">SoSoValue</a> data, US BTC ETFs recorded a considerable streak of inflows that debuted on October 11. The only outflow day was October 22. 
Bloomberg’s analyst Eric Balchunas predicted in a <a href="https://x.com/EricBalchunas/status/1851381046501392574" rel="nofollow" target="_blank">post</a> via X shared yesterday that, considering BTC’s price surge during this week, the crypto products could continue to record even more inflows. 
He also noted that BlackRock’s IBIT traded $3.3 billion on October 29, the biggest number in 6 months. 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GbFsSUPX0AAgQE9?format=jpg&amp;name=4096x4096" alt="Eric Balchunas via X" width="2480" height="1252" title="Bitcoin Price Hit a New ATH Above $73,500 22">
 <figcaption class="wp-caption-text">
 Eric Balchunas via X
 </figcaption>
</figure> 
He said that the volume can spike if there is a FOMO-related frenzy. 
The markets could see increased volatility the next few days ahead of the US elections, and considering the important upcoming <a href="https://crypto.ro/en/news/bitcoin-price-breaks-68000-top-events-to-watch-this-week-october-28-november-1/">macroeconomic events</a> this week.

Bitcoin Price Hit a New ATH Above $73,500

Table of Contents

crypto.ro global

Other articles published on Oct 30, 2024

Will Dogecoin Hit The $5 Milestone? Analysts Predict This Crypto ETF Token Will Deliver 1,000x Re...

OpenEden Fires Co-Founder Amid Drugging Allegations in Hong Kong

Chainalysis: Ukraine, Russia lead in crypto adoption at all levels

Scaramucci on Bitcoin Price: "It's Still Very Early"

R0AR Unveils 10,000 Unique Executive NFTs, Introducing Community-Driven Governance and Rewards

Crypto News Prediction for 2025: $XRP Aims For $5 While DOGE And Cutoshi Aim For $1

Join our free newsletter for daily crypto updates!