On a seven-day basis, bitcoin ETPs have seen 25,675 BTC ($1.74 billion) in net inflows, the biggest since July.
Since Oct. 14, bitcoin ETFs have seen approximately $1.9 billion (21,450 BTC) in net inflows.
On Oct. 17, ether saw $48.4 million in net inflows, which is the largest since Sept. 27
Bitcoin’s (BTC) ongoing price resurgence has investors worldwide scrambling to take exposure to exchange-traded products (ETPs) tied to the leading cryptocurrency.
Global ETPs have registered a cumulative inflow of 25,675 BTC ($1.74 billion) in seven days, the biggest seven-day tally since July, according to bold.report.
Bitcoin ETPs now hold 1.1 million BTC, the same amount that Satoshi’s wallet holds. ETPs are a collective term that describes other funds, such as exchange-traded funds (ETFs) and exchange-traded notes (ETNs).
Bitcoin (BTC) has surged by 15% since the Oct. 10 lows and is just 8% away from the all-time high set in March, CoinDesk data show. The rally is led by several factors, including expectations for Fed rate cuts and rising odds of pro-crypto Donald Trump winning the Nov. 5 U.S. Presidential election.
The U.S.-listed spot ETFs have also seen a strong uptake, pulling in nearly $1.9 billion in investor money since Oct. 14, according to data source Farside Investors. In bitcoin terms, that is the equivalent of 21,450 BTC. To put this into perspective, the bitcoin ETF investors have purchased around 48 days of mined supply, as roughly 450 BTC get mined daily.
These spot ETFs have now taken over $20 billion in net inflows since inception, an impressive feat as it took Gold ETFs about five years to reach the same number, according to Bloomberg’s ETF Analyst Eric Balchunas.
The U.S.-listed spot ether (ETH) ETFs saw an inflow of $48.4 million on Oct.17, the largest since Sept. 27.
Inflows were spread across issuers, with BlackRock’s ETHA raking in $23.6 million, taking the lifetime tally to $1.3 billion. Meanwhile, Fidelity FETH saw a $31.1 million inflow, approaching $500 million in net inflows.
