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Reading: $556 Million Dropped into Spot Bitcoin ETFs! Huge Increase in Corporate Interest!
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EdaFace Newsfeed > Latest News > Bitcoin and BTC > $556 Million Dropped into Spot Bitcoin ETFs! Huge Increase in Corporate Interest!
Bitcoin and BTC

$556 Million Dropped into Spot Bitcoin ETFs! Huge Increase in Corporate Interest!

vitalclick
Last updated: October 15, 2024 9:08 am
6 months ago
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traded in the USA spot Bitcoin $64,586 ETF‘s made a big jump on October 14 with a net inflow of $556 million. This was recorded as the largest daily entry since the $886 million entry on June 4. Experts point out that inflows of this size come from institutional investors and advisors, not retail investors.

Strong Performance from Fidelity, Bitwise and BlackRockInstitutional Investors’ Interest in Bitcoin Is Increasing

Strong Performance from Fidelity, Bitwise and BlackRock

The highest net inflow on a daily basis was 239 million dollars Fidelity pulled. Bitwise ranked second with an entry of 100 million dollars, while the famous asset management company BlackRock‘s spot Bitcoin ETF received $79 million inflow. Interestingly, there have been recent outbursts GrayscaleThere was an inflow of 37 million dollars to ‘s ETF. This figure indicates that investors are starting to show interest in Grayscale’s fund again.

On the other hand BitcoinDespite this huge demand in spot Ethereum, the same interest $2,526 It was not possible to see it in ETFs. Spot Ethereum ETFs finished October 14 with only $17 million in net inflows.

Institutional Investors’ Interest in Bitcoin Is Increasing

ETF Store President Nate GeraciHe described the massive investments coming into spot Bitcoin ETFs as a “huge day.” “We have seen approximately $20 billion in net inflows since the launch of ETFs,” Geraci said. “This figure is well above pre-launch expectations,” he said. He also emphasized that most of these investments come from institutional investors and advisors, not individual investors.

This strong performance in spot Bitcoin ETFs once again demonstrates that institutional interest in the cryptocurrency market is increasing. Investors’ spotlight ETFThe trend towards ‘s indicates that confidence in the market has strengthened.

Market observers and analysts believe that Bitcoin could rise to new heights if the increase in institutional interest is sustained. The largest with current data cryptocurrency It is traded at $65,422 with an increase of 2.51 percent in the last 24 hours.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.

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