Bitcoin prices have risen nearly 12% in the past week and are currently trading above $67,000. This price increase coincides with increased inflows into U.S. Bitcoin spot ETFs. Total assets under management (AUM) of all U.S. spot Bitcoin ETFs have reached $64.46 billion, hitting a four-month high, while Bitcoin spot ETFs saw $460 million in inflows on Thursday, with BlackRock's IBIT being the largest Net inflows into the fund amounted to US$390 million.
According to data from SoSoValue, this is the largest inflow since July 22, when IBIT’s net inflow reached $530 million. Overall, the Bitcoin spot ETF market shows a growth trend. In addition to IBIT, Fidelity’s FBTC Net inflows were US$14.81 million, while Bitwise's BITB was US$12.93 million. Other similar Bitcoin ETFs also showed net inflows.
This illustrates increased investor interest in Bitcoin, especially as the U.S. presidential election approaches. Republican candidate Trump is seen as a supporter of cryptocurrency, and expectations of his victory have fueled optimism in the market. Bitcoin "whale" transfer activities have also surged. Discussions about Bitcoin on social media account for more than a quarter, and trading sentiment is very enthusiastic before the election.
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"MICA Daily｜Bitcoin Spot ETF saw continuous net inflows of funds, raising the price of the currency to US$67,000." This article was first published on (Block Guest).
