The United States spot Bitcoin Exchange-Traded Fund (ETF) recorded an inflow of $870 million on October 29th. The record came after BTC surged to as high as $73,500.
Bitcoin ETFs Welcome $870M
According to public data from analytics platform SoSoValue, BlackRock’s iShares Bitcoin Trust (IBIT) led the inflow streak with a record of $642.87 million, bringing its total net inflow to $24.94 billion. This latest record cements BlackRock’s leading position among spot Bitcoin ETF issuers.
Next was Fidelity’s Wise Origin Bitcoin Fund (FBTC), which saw $133.86 million in inflows, followed by the Bitwise Bitcoin ETF (BITB) gaining $52.49 million, Grayscale’s Mini Bitcoin Trust (BTC) $29.20 million and the VanEck Bitcoin Trust (HODL) $16.52 million, while ARK 21Shares Bitcoin ETF (ARKB) with $12.39 million.
Other ETFs, including the Valkyrie Bitcoin Fund (BRRR), Galaxy Bitcoin ETF (BTCO), Franklin Bitcoin ETF (EZBC), WisdomTree Bitcoin Fund (BTCW), and Hashdex Bitcoin ETF (DEFI), had no inflows for the day. Grayscale’s Bitcoin Trust (GBTC) was the only ETF to see net outflows of $17 million.
The total trading volume for these 12 spot Bitcoin ETFs in the latest record reached $4.75 billion, with their cumulative net inflow at $23.28 billion. This brings the total net assets held by the ETF issuers to $72.55 billion in assets, which accounts for approximately 5.07% of Bitcoin’s market cap of over $1.4 trillion.
Interestingly, yesterday’s Bitcoin ETF record marks the largest inflow record the fund has recorded since June 4th, when it welcomed over $887 million.
BTC Trades At $71.5K
The spot Bitcoin ETF’s latest record was largely fueled by bitcoin’s price movement over the past 24 hours. Yesterday, the leading crypto asset nearly reached its all-time high (ATH) of $73,700. It soared to as high as $73,500 before a market correction took its price below the $72,000 price mark.
The price surge is largely fueled by anticipation of the upcoming U.S. election, scheduled for November 5th. As of this writing, Bitcoin is trading at $71,500, representing a 0.67% increase over the past 24 hours.
