U.S. spot Bitcoin ETFs have been on a massive streak, having seen almost $3 billion worth of inflows over the past six trading days. But the tailwind the funds were enjoying seems to have gone slack, as so-called “Uptober” closed with $31.3 million worth of inflows on Thursday, according to CoinGlass.
Yesterday’s Bitcoin ETF trading saw BlackRock’s iShares Bitcoin Trust (IBIT) pull in $317 million. But that was offset by almost every other fund in the category seeing outflows.
The only exception was Valkyrie Bitcoin Fund (BRRR), which saw investors deposit $1.9 million more than was withdrawn, according to CoinGlass.
Earlier this week, the BTC ETFs as a category reached an important milestone as they had accumulated more than 1 million BTC. That means the U.S.-traded funds haven’t got very far to go before they exceed the 1.1 million BTC that’s sitting in a wallet that belongs to elusive Bitcoin founder Satoshi Nakamoto.
At the time of writing, the Bitcoin price has bounced back above $70,000 after cooling off during early European trading hours.
Go to Source to See Full Article
Author: Stacy Elliott
