Bitcoin exchange-traded funds (ETFs) in the United States experienced a significant increase in inflows on October 14, resulting in Bitcoin’s price reaching its highest level in over three months. The Fidelity Wise Origin Bitcoin Fund, Bitwise Bitcoin ETF, and BlackRock’s iShares Bitcoin Trust were among the top ETFs receiving inflows. Experts attribute the surge in Bitcoin ETF inflows to various factors, including the upcoming US election and growing macroeconomic optimism. Additionally, institutional investors have played a crucial role in driving the record-breaking inflows into Bitcoin ETFs. Institutional adoption of Bitcoin ETFs has increased significantly, with many financial advisors and pension funds gaining access to the space. Bitcoin ETFs have outperformed traditional assets like gold, further solidifying Bitcoin’s status as a distinct alternative asset class.
Investor Sentiment Shifts Significantly with 556M Inflows into Spot Bitcoin ETF