2024-10-18
On October 17, 2024, Bitcoin
exchange-traded funds (ETFs) have surpassed $20 billion in net flows, marking a
crucial achievement in the growth of digital assets. This comes after a week
that saw $1.5 billion in new inflows, underscoring the rising confidence in
Bitcoin among institutional and retail investors.
This breakthrough is particularly
noteworthy as net flows, one of the most challenging metrics to grow in the ETF
space, have proven to be a key indicator of sustained investor interest. In
comparison, gold ETFs took nearly five years to reach the same $20 billion
mark, highlighting the rapid growth of Bitcoin ETFs.
Despite the momentum in ETF inflows,
Bitcoin's price remains below $69,000. Total assets under Bitcoin ETFs now
stand at $65 billion, another record, further cementing the status of Bitcoin
as a mainstream financial asset.
