Bitcoin ETFs Reach $3 Billion Inflows In October, Retail Investors Lead The Charge – Report

Quick Summary:

Undoubtedly, these ETFs have marked the turning point for Bitcoin and other cryptocurrencies since the beginning of the year, as it opened up the cryptocurrency to inflows from every side.  Related Reading: Against All Odds: Solana (SOL) Breaks Past $176 In 3-Month Push Interestingly, data has shown that retail investors are responsible for most of the demand for Spot Bitcoin ETFs, accounting for 80% of the total assets under management.

According to flow data from SosoValue, weekly inflows started on a positive note on Monday, October 21, with $294.29 million entering the funds and ended the week with $402.08 million in inflows on Friday, October 25.  Interestingly, Spot Bitcoin ETFs now hold about 938,700 BTC in 10 months since launch and are steadily approaching the 1 million BTC mark.

Bitcoin ETFs ended last week on another positive note with $997.70 million in net inflows and demand reaching its highest level in six months.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Crypto Bitcoin Btc Bitcoin ETF Btcusd Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-27 @ 19:30:26 (21 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 469 words

Reading Time: 3 minutes read

Sentences: 63 lines

Sentence Length: 8 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 23272057

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