US Bitcoin ETFs continue to be strong “Uptober” Another strong performance for the institutional demand with $2.71 Billion in weekly inflows.
As per data SoSoValue reports that the assets under management of Bitcoin ETFs have risen to $158.96billion as of last Friday. That’s nearly 7 percent of Bitcoin’s overall market capitalization.
“Capital keeps flowing into BTC as allocators double down on the digital gold conviction trade. Liquidity is building now as the market momentum takes shape,” Vincent Liu told Cointelegraph that he is chief investment officer for quantitative trading firm Kronos Research.
On Monday, spot Bitcoin ETFs had their best week. Funds recorded massive net inflows of $1.21 billion, which was the second largest single-day amount since the products’ launch. On Tuesday, the funds saw strong inflows totaling $875.61 millions.
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Bitcoin ETFs lose $4.5 Million
On Friday, Bitcoin ETFs saw a $4.5 million net outflow amid market jitters after President Donald Trump confirmed he would impose a 100% tariff on imports from China.
BlackRock IBIT topped the market, with daily inflows of $74.2 millions and cumulative totals of $65.26 Billion. Fidelity FBTC, Grayscale GBTC, and Grayscale GBTC all recorded outflows, with respective amounts of $10.18 and $19.21 millions.
“Trump’s tariff threat looks more like a negotiation tactic than a policy pivot, classic pressure play,” Liu said. “Markets may flinch short term, but smart money knows the game: macro noise, conviction unchanged,” He added.
Related: Ether ETF inflows, explained: What they mean for traders
“Uptober” The 31 ETFs filed sparks a rush for ETFs
Over the past 2 months, 31 crypto ETF Apps have been submitted The US Securities and Exchange Commission has received 21 complaints in the first 8 days of October.
Analysts describe The moment can be a possible opening for the “floodgates” Crypto ETFs. Bloomberg’s James Seyffart pointed out that nearly 100 crypto-related items awaited SEC decision as late as August.
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Source: cointelegraph.com
