Bitcoin ETFs Record $870 Million Inflow as Bitcoin Nears All-Time High
Bitcoin reached $73,500 on October 29, coming within $200 of its all-time high of $73,700. On the same day, Bitcoin exchange-traded funds (ETFs) recorded total inflows of $870.1 million, indicating a significant increase in investment activity. Historical data from The Block shows that with almost $5 billion in volume, October 29 was also within the top 10 days since the spot ETFs launched in January and the highest since August. The iShares Bitcoin Trust (IBIT) led the inflows with $642.9 million, reinforcing its position in the market. 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. These substantial inflows align with Bitcoin’s price surge, suggesting 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 watching to see if this momentum will push Bitcoin past its previous peak. The significant capital flowing into ETFs like IBIT and FBTC indicates a strong appetite for Bitcoin exposure through traditional investment vehicles.
