A momentous financial event unfolded in the U.S. as Bitcoin spot ETFs saw a staggering $880 million influx in a single day, marking a historic milestone. This surge in investment propelled Bitcoin’s value above the $71,000 threshold amidst a bullish market trend.
With a notable 3% uptick in just 24 hours, U.S. Bitcoin ETFs witnessed an unprecedented surge in investments. The remarkable inflow of $880 million in a single day set a new record as 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 indicated a 2.65% increase in major cryptocurrency tokens, with Fidelity’s FBTC ETF leading the charge with a remarkable $378 million inflow, outpacing 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 surpassed $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 like Fidelity, IBIT, ARKB, BITB, GBTC, and HODL. The total net asset value of BTC spot ETFs now stands at an impressive $61.46 billion.
In a significant development, Grayscale recently introduced a Bitcoin Mini ETF with a groundbreaking low fee of 0.15%, sparking discussions about the potential impact of strategic fee adjustments on Bitcoin’s price, possibly pushing it towards the $80,000 mark.
As of the latest data, Bitcoin is trading at $70,954.54, showing a 3.33% increase over the past day and a 4.86% rise over the past week. For further analysis and visual representation, refer to the accompanying chart below and explore more Bitcoin-related content for insights and updates.