Bitcoin ETF sees institutional investors lead adoption, reaching $556 million (
The ETF Store's chairman, Nate Geraci, said in a statement that the fund has seen an influx of $829 million in new investments.
Geraci described the event as a historic day for physical Bitcoin ETFs, which have seen net inflows of $20 billion (roughly $1.2 billion) over the past 10 months.
He also said, "The demand completely exceeded our prior forecast. In my opinion, it is not individual investors who are looking for short-term profits. It is financial advisors and institutional investors who are in a good position to make the investment."
"We continue to see strong adoption of Fidelity Wise Origin Bitcoin," he said.
The Bitwise Exchange (FBTC) Fund recorded its largest inflow since June 4th with $239.3 million.
eBitcoin ETF (Bitwise Bitcoin ETF) reaches over $100 million, iShares Bitcoin
The IBIT Trust followed with $79.6 million. Factors driving the surge in Bitcoin ETFs
The recent surge in Bitcoin ETF inflows is the result of a confluence of factors that have led to a “partnership” in overall cryptocurrency investment.
Some experts say this is creating a "perfect storm."
"Investors can take confidence in the expectation that Bitcoin (BTC) will resume its upward trajectory as the US presidential election approaches in November," said Ethereum CEO and CEO, Ian Aruliah.
"Both sides in the election have made positive statements about crypto assets, and hopes for regulatory clarity are growing," said Alicia, managing director of cryptocurrency exchange KuCoin.
Alicia Kao said rising economic optimism is another key factor driving this trend, adding that "economic data released by various agencies in the United States shows a potential
"The Federal Reserve has already begun gradually lowering interest rates, easing fears of a sudden economic downturn," he said, adding that "hedge funds' participation in digital assets is a reflection of increased regulatory clarity and
"It is steadily increasing due to the launch of global physical cryptocurrency ETFs."
2024/10/21 12:58 KST
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