The US spot bitcoin exchange-traded funds (ETFS) continued their strong performance “UPTOBER” with $ 2.71 billion in weekly flow, marked another strong week for institution’s demand.
According to Data From Sosovalue, the total genitals under management for Bitcoin ETFs rose to $ 158.96 billion until Friday, representing about 7% of Bitcoin’s total capitalization.
“Capital continues to flow to BTC as allocators double in the trading of digital gold beliefs. Watering is now built as the market momentum is shaping,” Vincent Liu, chief investment official in the amount of trading firm Kronos Research, told Cointelegraph.
The best day of the week for Bitcoin ETF spots came on Monday, when funds recorded a massive $ 1.21 billion in net inflows, the second largest outflow of flow as these products were first launched. The funds also saw a strong flow of $ 875.61 million on Tuesday.
Related: Defi booming as $ 11b bitcoin whale stirds ‘uptober’ hopes: redefined redefined finance redefined
Bitcoin ETFs see $ 4.5 million flowing
On Friday, Bitcoin ETFS saw a $ 4.5 million net flow amongst jitters in the market after President Donald Trump confirmed that he would impose a 100% tariff on imports from China.
Blackrock Ibit led the market with $ 74.2 million in the day -to -day flow and $ 65.26 billion in combined with the whole. However, Fidelity’s FBTC and Griretscale’s GBTC have recorded $ 10.18 million and $ 19.21 million, respectively.
“Trump’s tariff threat looks more like a negotiation tactic than a policy policy, playing classic pressure,” Liu said. “Markets can be a short term, but smart money knows the game: MacRO noise, the faith does not change,” he added.
Related: Ether etf inflows, explained: what do entrepreneurs mean
The “uptober” sparks etf rush in the middle of 31 filing
Over the past two months, 31 Crypto etf Applications submitted of the US Securities and Exchange Commission (SEC), 21 of them during the first eight days of October.
Analyst describe The moment as a potential opening of the “flood” for Crypto ETFs. James Seyffart of Bloomberg noted that in late August, nearly 100 crypto products awaited the decisions of the SEC.
Magazine: Delayed
