The post Record-Setting Week for Bitcoin Funds Ahead of US Elections: ETF Recap appeared on BitcoinEthereumNews.com.

In the last full trading week ahead of the highly-anticipated US presidential elections, the 11 locally-based spot Bitcoin ETFs registered their best week in terms of net weekly flows since March. At the same time, the asset’s price skyrocketed to almost a new all-time high, but lost a lot of momentum in the following days. BTC ETFs on a Roll It’s safe to say that October has been a particularly positive month for the spot Bitcoin ETFs. Their streak began on October 11, and they have seen only two days of net outflows out of a total of 16 since then. As reported last Sunday, the funds attracted slightly over $2 billion during that trading week, and the numbers only rose during this one. Monday saw $479.4 million being poured in, followed by $870.1 million on Tuesday, and $893.3 million on Wednesday. After these two consecutive notable days, investors cooled off on Thursday ($32.3 million) and withdrew $54.9 million on Friday. Overall, the total number for the trading week stands at $2,220.2 billion, according to Farside. This makes it the best week since March 11-15. More good news came for BlackRock’s IBIT, which broke its record for best inflow day on Wednesday, with $872 million. It now has more than $26 billion in AUM after attracting another $315.2 million on Monday, $642.9 million on Tuesday, and $318.8 million on Thursday. BTC’s price actions were impacted at the start of the week by the inflows, as the asset skyrocketed to $73,600 on Tuesday. However, it has lost over five grand in the following days, perhaps due to the sudden change of odds for the self-proclaimed pro-crypto US presidential candidate – Donald Trump. And How Are ETH ETFs Doing? After being live for trading since late July, it’s pretty obvious that the…

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Filed under: News - @ November 3, 2024 4:23 pm