Spot Bitcoin
$
65,360
ETFs trading in the United States experienced a remarkable surge on October 14, with a net inflow of $556 million. This marks the largest daily inflow since June 4, when the amount reached $886 million. Experts emphasize that such substantial investments are coming not from retail investors but rather from institutional investors and advisors.
Contents
Fidelity, Bitwise, and BlackRock Show Strong Performance
Institutional Interest in Bitcoin Increases
Fidelity, Bitwise, and BlackRock Show Strong Performance
Fidelity led the daily net inflows with $239 million, followed by Bitwise with $100 million, and well-known asset management firm BlackRock with $79 million. Interestingly, Grayscale, which has recently faced outflows, saw a net inflow of $37 million into its ETF, indicating a renewed interest from investors.
Despite the strong demand for Bitcoin, a similar interest in spot Ethereum
$
2,603
ETFs was not observed. On October 14, spot Ethereum ETFs only recorded a net inflow of $17 million.
Institutional Interest in Bitcoin Increases
Nate Geraci, President of ETF Store, described the significant investment in spot Bitcoin ETFs as “a very big day.” He noted that since their launch, these ETFs have seen approximately $20 billion in net inflows, far exceeding pre-launch expectations. He also highlighted that most of these investments have come from institutional investors and advisors rather than individual investors.
The robust performance of spot Bitcoin ETFs underscores the rising institutional interest in the
cryptocurrency
market. The shift towards spot ETFs also signals increased confidence within the market.
Market observers believe that if the rise in institutional interest is sustainable, Bitcoin could reach new heights. Current data shows the largest cryptocurrency trading at $65,422, reflecting a 2.51% increase in the last 24 hours.
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Disclaimer:
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
