Bitcoin ETPs Experience Significant Inflows, Reaching Highest Levels Since July
Bitcoin exchange-traded products (ETPs) have marked their largest inflow in recent weeks, reflecting growing investor interest amid rising prices.
Bitcoin exchange-traded products (ETPs) achieved substantial popularity recently, with net inflows totaling 25,675 BTC (approximately $1.74 billion) over the past week, marking the largest influx since July. According to data, these ETPs have accumulated around 1.1 million BTC, matching the amount held in Satoshi's wallet.
In a notable trend, since October 14, Bitcoin ETPs have drawn in around $1.9 billion (21,450 BTC) in funding. As Bitcoin's price rebounds—up by 15% since the October 10 lows—investors are keen to gain exposure to these financial products, especially as market sentiment grows around potential U.S. Federal Reserve rate cuts and a strengthening pro-crypto stance in upcoming elections.
Additionally, Ethereum also witnessed a considerable inflow of $48.4 million in its ETFs, the highest recorded since September 27.
The surge indicates that institutional interest in cryptocurrencies remains strong, with Bitcoin's current price approaching $68,000, just shy of its all-time high.