Bitcoin Spot ETF Sees $294M Inflow, Extending 7-Day Streak Amid Growing Market Confidence
Posted On October 22, 2024
Bitcoin spot ETFs on Oct. 21 continued their strong momentum, registering a net inflow of $294 million, marking the seventh consecutive day of inflows.
What Happened: Leading the charge, BlackRock’s (NASDAQ:IBIT) ETF saw an impressive $329 million in inflows, while other major players showed mixed results.
Fidelity‘s (CBOE: FBTC) ETF recorded a smaller inflow of $5.9 million, whereas VanEck‘s (CBOE: HODL) ETF experienced an outflow of $7.6 million, according to data from SoSo Value.
The inflows signal growing investor confidence in Bitcoin as a key asset, bolstered by favorable market conditions.
In a note sent to Benzinga, Abdul Rafay Gadit, CEO and Founder of Zignaly, said that ETFs have seen an inflow …
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