As a seasoned researcher with a keen interest in the dynamic world of finance and cryptocurrencies, I must say that the recent surge in Bitcoin price and inflows into spot BTC ETFs is nothing short of exhilarating. With over $4.7 billion net inflow in just six trading sessions, it’s evident that traditional players are increasingly recognizing the potential of this digital asset.
With Bitcoin reaching unprecedented peaks, there’s a noticeable rise in investments pouring into spot Bitcoin Exchange-Traded Funds (ETFs) as traditional financial players are drawn to what’s becoming the most profitable asset within financial markets. As of November 13, these Bitcoin ETFs have seen a net influx of over $4.7 billion over the last six trading sessions.
Based on recent market statistics from Sosovalue, there has been a significant increase in investments towards Spot Bitcoin Exchange-Traded Funds (ETFs). In fact, within the last two weeks, these ETFs have experienced one of their largest net inflows ever. The daily investment amount surpassed $1 billion on both November 7th and 11th.
For the past two weeks, we’ve seen a series of 6 consecutive days with net positive Bitcoin inflows, starting from November 6th, when the price of Bitcoin began to surge significantly from approximately $75,000.
As a researcher, I’m sharing an intriguing observation: On November 13th, Bitcoin (BTC) peaked and set a new record high of $93,400, according to Coinmarketcap data. Currently, BTC is trading around $90,500, representing a substantial increase of approximately 21% over the last seven days.
Spot Bitcoin ETF Total Inflow Nears $100 Billion
As institutional interest in Bitcoin expands, traditional financial entities are increasingly diving into the market by buying Bitcoin through spot Bitcoin Exchange-Traded Funds (ETFs). According to Sosovalue’s data, the total net assets in these spot Bitcoin ETFs have climbed to $95.40 billion, just $4.5 billion shy of a historic milestone.
Ever since their debut in January, Bitcoin ETFs have been gathering vast amounts of capital and are now highly sought-after investment vehicles among traders. Currently, BlackRock’s iShare Bitcoin Trust ranks fourth in terms of trading volume across all financial markets.
As a researcher, I’m eagerly anticipating the upcoming week for Bitcoin, as its price consistently reaches new heights daily, indicating a surge in value. If this bullish trend persists, it seems plausible that we could see BTC reaching $100,000 by the end of next week. Moreover, with the spot Bitcoin ETFs, we might witness them achieving and celebrating total net assets of $100 billion during the same period.
Keep Reading: Bitcoin Hits $93K, Closing in on $100K Milestone
Read More
Sorry. No data so far.
2024-11-14 15:16