Global Bitcoin ETPs Register Biggest Seven-Day Inflow Since July

As an analyst with over a decade of experience in the financial markets, I’ve seen my fair share of market trends and fluctuations. The recent surge in Bitcoin ETP inflows is nothing short of impressive, especially considering it’s the biggest since July. With Bitcoin now holding 1.1 million BTC, which is the same amount that Satoshi’s wallet holds (or so we think), it seems the cryptocurrency market is reaching new heights.

Across the globe, investors are hastily trying to gain access to investment vehicles connected with Bitcoin (BTC), as its rising value continues to captivate them. This refers to Exchange-Traded Products (ETPs).

As a researcher, I’ve found that in just the past week, Global Exchange-Traded Products (ETPs) have collectively amassed 25,675 Bitcoins, equivalent to approximately $1.74 billion. This inflow marks the highest seven-day accumulation since July, as reported by bold.report.

1 million Bitcoins, which is equivalent to what’s in Satoshi Nakamoto’s wallet, are now being held by Bitcoin Exchange-Traded Products (ETPs), a group term encompassing various investment funds like Exchange-Traded Funds (ETFs) and Exchange-Traded Notes (ETNs).

Bitcoin (BTC) has experienced a 15% increase since its October 10th lows, and now stands only 8% shy of the record high it achieved in March, according to CoinDesk’s data. The upward trend is primarily driven by various factors, such as anticipation for Federal Reserve interest rate reductions and the growing possibility that pro-cryptocurrency candidate Donald Trump will secure victory in the November 5th U.S. Presidential election.

Since October 14th, U.S.-listed spot ETFs have experienced a significant surge in investment, attracting approximately $1.9 billion. In Bitcoin terms, this equates to around 21,450 Bitcoins. To help visualize this, the amount of Bitcoin ETF that investors have bought is equivalent to about 48 days’ worth of mined supply, as approximately 450 Bitcoins are mined each day.

Since their introduction, these exchange-traded funds focused on specific stocks (ETFs) have amassed over $20 billion in net investments, a notable achievement considering that gold ETFs required around five years to accumulate the same amount, as reported by Bloomberg’s ETF analyst Eric Balchunas.

Biggest inflow into ether since Sept. 27

On October 17th, there was a significant increase in investments into U.S.-traded Ethereum ETFs, marking the largest influx since September 27th.

As an analyst, I observed that the inflows were distributed among various issuers. Specifically, BlackRock’s ETHA garnered approximately $23.6 million, boosting its lifetime total to a staggering $1.3 billion. On the other hand, Fidelity’s FETH witnessed an impressive $31.1 million inflow, edging closer to half a billion dollars in net inflows.