US Bitcoin Exchange-Traded Funds (ETFs), which are traded on the US stock exchange, have continued to grow. “Uptober” Another strong performance for the institutional demand with $2.71 Billion in weekly inflows.
As per data Total assets managed for Bitcoin by SoSoValue (BTC) ETFs climbed to $158.96 billion as of Friday, representing nearly 7% of Bitcoin’s total 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 is the chief investment officer of quantitative trading company Kronos Research. He spoke to Cointelegraph.
It was Monday that spot Bitcoin exchange-traded funds had the best day. They recorded net inflows totaling $1.21billion, their second biggest single-day since they were launched. In addition, on Tuesday the funds experienced a strong inflow of 875.61 Million dollars.
Related: DeFi booming as $11B Bitcoin whale stirs ‘Uptober’ hopes: Finance Redefined
Bitcoin ETFs experience $4.5M outflow
Bitcoin ETFs experienced a net outflow of $4.5 Million on Friday amid heightened volatility. market jitters after Donald Trump has confirmed that he will impose 100% tariffs on all imports coming from China.
BlackRock IBIT led with $65.26 Billion in total cumulative inflows. 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
In the last two months, there have been 31 crypto ETF Applications have been submitted In the eight first days of October, 21 such complaints were filed with the US Securities and Exchange Commission.
Analysts describe Moment as potential for opening the “floodgates” For crypto ETFs. Bloomberg’s James Seyffart pointed out that nearly 100 crypto-related items waited for SEC decision as late August.
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Source: cointelegraph.com
