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Record Inflows for Bitcoin ETFs as Weekly Purchases Surpass $2 Billion
Bitcoin ETFs Hit $21 Billion in Net Inflows, Setting New High
Spot Bitcoin ETFs in the US achieved a milestone with total net inflows of $21 billion on Friday, indicating strong investor interest in these funds. This week, these ETFs saw over $2 billion in net purchases, marking the sixth consecutive day of gains, according to data from Farside Investors.
Top Performers and Inflows Breakdown
Notably, ARK Invest’s ARKB led the pack this week, attracting nearly $110 million in net inflows. Meanwhile, BlackRock’s IBIT also saw significant gains, with over $70 million in net inflows on Friday alone. Other notable performers include VanEck’s HODL, Bitwise’s BITB, Fidelity’s FBTC, and Invesco’s BTCO.
This week, ARKB and IBIT emerged as the top-performing Bitcoin ETFs, with ARKB experiencing a surge in inflows exceeding $100 million on both Thursday and Friday. In comparison, IBIT accounted for half of the total inflows, solidifying its position as the leading Bitcoin ETF with net inflows surpassing $23 billion as of October 18.
Positive Trends and Market Resilience
Friday marked a significant milestone for Bitcoin ETFs, as they recorded a week with no negative inflows for the first time. Even Grayscale’s GBTC, known for historical outflows, saw a reversal in trend with over $91 million in net inflows.
Options Trading for Bitcoin ETFs Set to Enhance Market Dynamics
The SEC’s approval of NYSE and CBOE’s proposals to list options for spot Bitcoin ETFs is poised to expand market access to crypto-related financial products on major US exchanges. Nate Geraci, president of the ETF Store, believes that this move will enhance market liquidity and attract more players, particularly institutional investors.
Geraci emphasized the significance of options trading, stating that it will deepen liquidity around spot Bitcoin ETFs and attract a broader range of players to the market, particularly institutional investors. He also highlighted the importance of options trading for hedging and implementing complex strategies, both for institutional and retail investors.
According to Geraci, the introduction of options trading will meet the needs of both institutional and retail investors, providing them with essential tools for managing risk and executing trading strategies effectively.
Geraci reiterated that options trading will not only benefit institutional players but also cater to the needs of sophisticated retail investors who seek to utilize options for risk management and strategy implementation.
The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
