⚡ Spot Bitcoin ETFs in the U.S. Surge with Record Inflows
posted 2 hr ago
On October 29, U.S. spot Bitcoin ETFs witnessed an impressive total net inflow of over $870 million, as reported by SoSoValue. The previous high was reached in early June (~$886 million), with the all-time peak recorded on March 12, 2024, at roughly $1.05 billion.
Notably, these inflows happened alongside a BTC price spike, which on the same day crossed the $73,000 threshold.
Eric Balchunas, Bloomberg’s Senior ETF Analyst, shared his observations on X, pointing out the extraordinary trading volume for BlackRock’s IBIT ETF, which hit $3.3 billion that day—the highest recorded over the past six months.
Balchunas speculated that this volume surge might be attributed to FOMO, an effect explained further in our dedicated article. According to Balchunas, if this trend holds, we may see even greater inflows over the coming days.
IBIT not alone - altho by far the most - as all the main btc ETFs saw elevated volume past two days. If this is a FOMO Frenzy we'll see it show up in the flows next few nights.. if not it means its due to HF arb trading or something like thatBalchunas posted on X.
Later, Balchunas posted “FOMO Confirmed” after noticing another $600 million inflow for IBIT. Additionally, BlackRock’s spot Bitcoin ETF surpassed $30 billion in assets under management, setting a new benchmark for cryptocurrency ETFs.
More breaking news
More breaking news
Breaking news
🌋 Starknet Sets a New TPS Record Among Ethereum L2s
Breaking news
🔥 The Rise of AI Drones in Modern Warfare
