Bitcoin Price Surges to $70,200 Amid $5.3 Billion Spot ETF Inflow in October 2024
The post Bitcoin Price Surges to $70,200 Amid $5.3 Billion Spot ETF Inflow in October 2024 appeared on BitcoinEthereumNews.com.
According to recent data from COINOTAG, the cryptocurrency landscape saw notable movement in October 2024. The **price of Bitcoin** surged from **US$63,300** to **US$70,200**, reflecting increased market enthusiasm. Particularly noteworthy is the monthly net inflow of **spot ETFs**, which reached an impressive **US$5.346 billion**. This surge contributed to a significant net inflow of **77,169 BTC**, marking it as the second-largest monthly influx on record. Among the key players, **BlackRock** notably expanded its Bitcoin portfolio, acquiring **66,309 BTC**, translating to a substantial inflow of **US$4.638 billion** into their holdings. **Fidelity** and **Bitwise** also reported net inflows of **US$497 million** and **US$137 million**, respectively, showcasing strong institutional interest in **digital assets**. Conversely, **ARK Invest** experienced a slight net outflow of **US$77 million**, while **Grayscale’s** movements were relatively neutral, reflecting **GBTC** net outflows and corresponding net inflows overall into Bitcoin. Source: https://en.coinotag.com/breakingnews/bitcoin-price-surges-to-70200-amid-5-3-billion-spot-etf-inflow-in-october-2024/
Filed under: News - @ November 1, 2024 3:15 am