A groundbreaking movement in the U.S. saw Bitcoin spot ETFs receiving a staggering $880 million influx in a single day, setting a historical financial record.
This surge in investment propelled Bitcoin’s value above the $71,000 threshold during a period of bullish market activity, showcasing a robust 3% surge in just 24 hours. This surge marked a historic moment for Bitcoin ETFs in the U.S., with the $880 million inflow being the second-largest single-day net inflow ever recorded. Following this influx, Bitcoin’s price skyrocketed past $71,000 during peak trading hours in Asia.
The CoinDesk 20 index reflected a 2.65% increase in major cryptocurrency tokens, with Fidelity’s FBTC ETF leading the charge with a massive $378 million influx, outstripping 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.
This surge has pushed year-to-date investments over $15 billion, driven by positive market trends and optimism surrounding the U.S. presidential campaign. Notable blockchain expert Collin Brown highlighted this significant market movement, emphasizing the substantial inflows into top ETFs such as Fidelity, IBIT, ARKB, BITB, GBTC, and HODL. The total net asset value of BTC spot ETFs now stands impressively at $61.46 billion.
Bloomberg analyst Eric Balchunas noted that the ETFs have amassed $3.3 billion in recent weeks, with a year-to-date net exceeding $15 billion. This increased activity follows the approval of an ether spot ETF and a generally positive outlook for cryptocurrencies from the ongoing U.S. presidential campaign.
In a recent development, Grayscale introduced a Bitcoin Mini ETF with a groundbreaking low fee of 0.15%, sparking discussions about whether strategic fee adjustments can propel Bitcoin’s price to hit the $80,000 milestone. Currently, Bitcoin is trading at $70,954.54, reflecting a 3.33% growth over the past day and a 4.86% increase over the past week.
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