Bitcoin spot ETFs on Oct. 21 continued their strong momentum, registering a net inflow of $294 million, marking the seventh consecutive day of inflows.
What Happened: Leading the charge, BlackRock's IBIT ETF saw an impressive $329 million in inflows, while other major players showed mixed results.
Fidelity‘s FBTC ETF recorded a smaller inflow of $5.9 million, whereas VanEck's HODL ETF experienced an outflow of $7.6 million, according to data from SoSo Value.
The inflows signal growing investor confidence in Bitcoin as a key asset, bolstered by favorable market conditions.
In a note sent to Benzinga, Abdul Rafay Gadit, CEO and Founder of Zignaly, said that ETFs have seen an inflow of over $1 billion, signaling growing investor interest and confidence in the market. “As we enter a phase of declining interest rates, liquidity is increasingly flowing towards riskier assets, creating opportunities for higher returns,” he said.
Gadit also pointed out that stable regulatory policies are further helping to foster confidence among market participants.
Also Read: There Has Never Been A More Pro-Crypto Congress Than The Next One: Here’s Why
While Bitcoin spot ETFs are gaining momentum, Ethereum ETFs showed contrasting results.
Grayscale's ETHE saw a net outflow of $29.5 million, reflecting weaker market sentiment for Ethereum.
In contrast, BlackRock's ETHA ETF registered a modest inflow of $4.8 million.
Overall, Ethereum spot ETFs posted a total net outflow of $20.7 million.
Gadit also noted the potential impact of the upcoming U.S. elections, anticipating further liquidity flowing into markets.
“With the upcoming U.S. elections, we expect liquidity to continue flowing into the markets, further driving positive momentum,” he said, expressing optimism for a strong year-end performance across the cryptocurrency space.
Exchanges are reporting a dwindling supply of Bitcoin, another bullish sign for the market.
These trends are expected to be key topics of discussion at the upcoming Benzinga Future of Digital Assets event on Nov. 19, where industry leaders will explore how liquidity, investor confidence, and market dynamics will shape the future of digital assets.
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