Bitcoin ETFs Reach Record $20 Billion Net Inflow: A Milestone in Crypto Investment

On October 17, COINOTAG reported significant developments in the cryptocurrency exchange-traded fund (ETF) sector. According to Bloomberg ETF analyst Eric Balchunas on the X platform, the cumulative net inflow for Bitcoin ETFs has surpassed US$20 billion for the first time—a crucial milestone in the ETFs landscape, showcasing robust investor confidence. Notably, last week alone contributed US$1.5 billion in net inflow. This contrasts sharply with the gold ETFs, which took approximately five years to achieve similar inflows. Presently, the total assets under management for Bitcoin ETFs stand at an impressive US$65 billion, marking a historic peak in this burgeoning market. These figures highlight the increasing institutional interest in Bitcoin as a viable investment vehicle, reflecting the evolution of investor sentiment in the ever-expanding cryptocurrency space.