• Bitcoin ETFs recorded the highest inflows in nearly five months.
• ETFs could likely overtake Satoshi’s holdings by December.

Bitcoin [BTC]  continued to exceed expectations with its staggering price rise and record-breaking exchange-traded fund (ETF) inflows.

On the 29th of October, BTC peaked at over $73,000. Simultaneously, spot BTC ETFs reported a net inflow of $870 million, according to data from SoSo Value.

This marked the highest single-day net inflow since early June.

It is worth noting that typically, such volumes spike during downturns are anticipated as investors “buy the dip.”

Ergo, the question: why are inflows surging alongside a rising BTC price? 

Why are Bitcoin ETF inflows rising?

Interestingly, Eric Balchunas, senior ETF analyst at Bloomberg, also found this rise “a bit odd” in a recent post on X. However, he explained:

“Occasionally tho volume can spike if there a FOMO-ing frenzy.”

The analyst further remarked, 

“Look for (more) big inflows this week.”

He added that iShares Bitcoin Trust ($IBIT) saw trading volumes soar to $3.3 billion, the largest figure in six months. Nonetheless, this product wasn’t the only one seeing elevated trading volumes. 

Although it led by a significant margin, all major Bitcoin ETFs experienced increased activity, suggesting that FOMO was definitely at play.

ETFs closing in on Satoshi

Notably, inflows weren’t the only area where ETFs seemed to be

Go to Source to See Full Article
Author: Kamina Gilani