Key Points
- Bitcoin ETFs noticed steady inflows this week, totaling over $1.38 billion.
- BTC value holds above $67,000.
The US-based Bitcoin ETFs recorded their 4th consecutive influx day for the reason that previous week, totaling greater than $1.38 billion this week alone, in keeping with information from SoSoValue.
On October 16, BTC ETFs noticed greater than $458.5 million in inflows, with BlackRock’s BTC ETF, IBIT, main the numbers.
BTC ETFs Inflows Between October 14 – October 16
Yesterday, BTC ETFs noticed their third consecutive influx day this week. Here are the influxes within the crypto merchandise:
- BlackRock’s Bitcoin ETF, IBIT, noticed probably the most inflows at $393.4 million.
- Fidelity’s Bitcoin ETF, FBTC, recorded $14.81 million in inflows.
- Bitwise’s Bitcoin ETF, BITB, recorded $12.93 million in influxes.
- Franklin Templeton’s Bitcoin ETF, EZBC, noticed nearly $11.8 million in inflows.
- Ark Invest and 21Shares’ Bitcoin ETF, ARKB, recorded over $11.5 million in inflows.
- Invesco’s Bitcoin ETF, BTCO, recorded over $6.4 million in inflows.
- VanEck’s Bitcoin ETF, HODL, recorded $5.75 million in inflows.
- Valkyrie’s Bitcoin ETF, BRRR, noticed $1.92 million in inflows.
The different crypto merchandise didn’t see any inflows or outflows the opposite day.
The whole internet belongings in Bitcoin ETFs as of October 16 had been $64.46 billion as of October 16, and the cumulative internet influx within the crypto merchandise was $20.19 billion.
The US-based BTC ETFs started their influx streak on October 11, after they recorded over $253.5 million in inflows.
The largest current influx day was at first of this week, on October 14, when the crypto merchandise noticed nearly $556 million in inflows, probably the most important quantity since June, in keeping with SoSoValue information.
BlackRock’s IBIT Leads in BTC ETF Inflows
This week alone, BlackRock’s Bitcoin ETF, IBIT, recorded nearly $762 million in inflows.
The whole internet belongings locked in IBIT had been over $25.8 billion as of October 16, and the cumulative internet influx within the crypto product was $22.46 billion.
BlackRock has been continuously shopping for BTC, whatever the coin’s value strikes since their crypto product IBIT launched again in January 2024, with solely 5 days of outflows to date, on May 1, August 29, September 9, October 2, and October 10.
Bitcoin’s value kicked off a rally following a dip on October 10 when the digital asset’s value dropped beneath $59,000.
BTC Price Holds Above $67,000
At the second of writing this text, BTC is buying and selling above $67,000, up by about 0.5% previously 24 hours.
Yesterday, at one level, the coin’s value topped $68,000 for the primary time since July 29.
BTC’s value spike coincided with the rising odds of Donald Trump successful the US elections, surpassing 60% on Polymarket the opposite day.
Bernstein analysts have lately highlighted the correlation between Bitcoin’s October surge and Trump’s rising possibilities of successful.
