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Bitcoin ETFs saw record inflows amid the broader market’s recovery, signaling investor optimism Political shifts are driving digital asset inflows, with Republicans seen as being pro-crypto Amid a broader market recovery, Bitcoin [BTC] ETFs have been gaining traction lately with significant inflows – A sign of a positive market trend. Bitcoin ETF update According to Farside Investors, Bitcoin ETFs recorded collective inflows of $371 million on 15 October. Leading the pack was BlackRock’s IBIT with $288.8 million, followed by Fidelity’s FBTC at $35 million. Additionally, Ark 21Shares’ ARK ETF reported figures of $14.7 million while finally, Grayscale’s GBTC saw inflows of $13.4 million. While some ETFs saw no inflows, none reported outflows. This can be interpreted as reinforcing the growing interest in Bitcoin-based investment vehicles. In fact, just a day ago, Bitcoin ETFs recorded their highest single-day net inflows since June – A combined value of $555.9 million. Leading this momentum was FBTC which reported $239.3 million inflows – Its largest since 4 June. Additionally, GBTC also saw renewed interest with figures of $37.8 million – Its highest since May and marking its first positive inflows in October.   This coincided with Bitcoin trading at $67,823.08 on the charts, following a 3.56% hike in 24 hours and gains of 9.44% over seven days. As expected, this has fueled speculation that the crypto may be gearing up for another all-time high. CoinShares links this to election – But why? Interestingly, CoinShares’ latest report also highlighted a notable uptick in digital asset inflows, totaling $407 million—A shift attributed to growing investor interest tied to a potential Republican win. This recent wave of capital is a sign of heightened interest in crypto, one driven by expectations that a GOP-led administration could bring favorable regulatory shifts to the industry.  The report noted,  “Digital asset…

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Filed under: News - @ October 17, 2024 1:26 am