Bitcoin ETFs Record $870 Million Inflow as Bitcoin Nears All-Time High
Bitcoin reached $73,500 on October 29, coming within $200 of its record high of $73,700. On the same day, Bitcoin exchange-traded funds (ETFs) saw total inflows of $870.1 million, marking a significant increase in investment activity.
According to historical data from The Block, with almost $5 billion in volume, October 29 was also one of the top 10 days since the launch of spot ETFs in January and the highest since August.
The iShares Bitcoin Trust (IBIT) led the inflows with $642.9 million, solidifying its market position. Fidelity’s FBTC followed with $133.9 million, while Bitwise’s BITB attracted $52.5 million. ARK’s Bitcoin ETF (ARKB) saw inflows of $12.4 million, and Grayscale’s BTC fund added $29.2 million despite previous outflows.
As of the time of writing, The Block’s data has not been updated to include October 29. However, the visualization below shows that the $870 million inflow was only surpassed on eight other days since the ETFs’ launch.
The substantial inflows coincide with Bitcoin’s price surge, indicating increased investor confidence. The proximity to its all-time high may have spurred additional interest, especially with the US election just days away.
Market analysts are closely observing whether this momentum will push Bitcoin past its previous peak. The significant capital flowing into ETFs like IBIT and FBTC suggests a strong appetite for Bitcoin exposure through traditional investment vehicles.
