Bitrabo Editorial
Spot Bitcoin Exchange-Traded Funds (ETFs) are attracting both institutional and retail investors who are showing increased confidence in the potential of BTC for the long term, as indicated by the significant inflows into these products.
Noticeable Increase in Investments in Spot Bitcoin ETFs
Recent data from Farside Investors has revealed a substantial surge in investments in spot Bitcoin ETFs. In just one day, these funds saw a remarkable $202 million in net inflows, a significant increase from the previous week’s $62.1 million. This signifies a growing interest and adoption of these investment products among investors daily.
The inflows observed recently almost equal half of the total inflows from the entire previous week, reaching around $500 million. An ongoing trend of attracting substantial investments like this could lead to price strength and potentially drive Bitcoin to achieve a new all-time high before the end of September.
It is noteworthy that a significant portion of this surge in investments is attributed to BlackRock’s iShares Bitcoin Trust (IBIT), which alone attracted over $224 million in daily inflows, the highest in the past 35 days. Other funds like Franklin BTC ETF (EZBC) and WisdomTree BTC Fund (BTCW) also saw positive inflows, while Bitwise BTC ETF (BITB), Fidelity Wise Origin Bitcoin Fund (FBTC), and VanEck BTC ETF (HODL) experienced outflows along with other funds.
Meanwhile, the Grayscale BTC ETF (GBTC), Invesco Galaxy Bitcoin ETF (BTCO), and Coinshares Valkyrie Bitcoin Fund ETF (BRRR) reported zero daily inflows.
Recent Bitcoin Price Movement
These increased investments in spot Bitcoin ETFs coincide with a recent decline in BTC’s price from around $65,000 to $62,720. This market movement suggests that investors, both institutional and individual, are capitalizing on the price dip to increase their exposure to Bitcoin.
With the significant inflows into these investment products, there are expectations that BTC could see an upward trend again soon. The trading volume for BTC has surged by over 44% in the past day, with its price currently at $62,818.