A groundbreaking moment occurred in the U.S. as Bitcoin spot ETFs saw a staggering $880 million influx in a single day, setting a new financial record. This surge in investment propelled Bitcoin’s value above $71,000 amidst a bullish market trend.
With a remarkable 3% surge within 24 hours, Bitcoin ETFs in the U.S. witnessed an unprecedented increase in investments. The $880 million inflow in a single day marked the second-largest net inflow ever recorded. Following this influx, Bitcoin’s price surged past $71,000 during peak trading hours in Asia.
The CoinDesk 20 index reflected a 2.65% rise in major cryptocurrency tokens, with Fidelity’s FBTC ETF leading the way with a significant $378 million influx, surpassing BlackRock’s IBIT and Grayscale’s GBTC. The recent approval of an ether spot ETF in the U.S. further fueled this trend, resulting in a total of $3.3 billion flowing into Bitcoin ETFs last month.
Year-to-date investments have now exceeded $15 billion, driven by positive market trends and optimism surrounding the U.S. presidential campaign. Blockchain expert Collin Brown highlighted this market movement, emphasizing the substantial inflows into top ETFs. The total net asset value of BTC spot ETFs currently stands at an impressive $61.46 billion.
Bloomberg analyst Eric Balchunas noted that ETFs have accumulated $3.3 billion in recent weeks, with a year-to-date net exceeding $15 billion. This surge follows the approval of an ether spot ETF and positive sentiment towards cryptocurrencies from the U.S. presidential campaign.
In a recent development, Grayscale launched a Bitcoin Mini ETF with a low fee of 0.15%, sparking discussions about whether strategic fee adjustments can drive Bitcoin’s price to $80,000. Currently, Bitcoin is trading at $70,954.54, experiencing a 3.33% growth in the past day and a 4.86% increase over the past week. For a visual representation and further analysis, refer to the chart below.