The post Spot Bitcoin ETFs Surges With Massive Inflows, Will This Trigger A Price Spike? appeared on BitcoinEthereumNews.com.

Both institutional and retail investors of the Spot Bitcoin Exchange-Traded Funds (ETFs) are beginning to bet big on BTC as the products have witnessed a notable surge in inflows, implying that investors are highly interested and confident in the potential of the digital asset in the long term. A Substantial Inflows Into Spot Bitcoin ETFs According to data from London-based investment management company Farside Investors shared by Micheal Van De Poppe, a crypto expert and Chief Information Officer (CIO) of MN Consultancy, the spot Bitcoin ETFs have increased drastically in the past day. On Monday, Van De Poppe pointed out that the exchange funds experienced a whopping $202 million in net positive inflows. This is a significant increase in net inflows compared to last Monday’s inflows worth $62.1 million, indicating rising adoption of the products among investors daily. The net inflows recorded just yesterday is nearly 50% of the overall net inflows witnessed through the entire trading days of last week, valued at about $500 million. Should the spot Bitcoin ETFs continue to attract significant inflows like this, Van De Poppe claims it is a critical sign of strength, possibly leading to an increase in the value of the largest cryptocurrency asset. Given the impact of the products on prices and the renewed investors’ interest, the market expert is confident that Bitcoin could hit a new all-time high before September closes. spot BTC ETFs see significant daily inflows | Source: Michael Van De Poppe on X It is worth noting that BlackRock‘s unparalleled iShares Bitcoin Trust (IBIT) solely makes up for the surge in inflows. The platform’s IBIT fund attracted over $224 million worth of daily inflows, marking its highest inflow in the last 35 days, specifically on July 22, when it saw about $526 million in capital. In the…

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Filed under: News - @ August 28, 2024 1:21 am