16.6 C
Kuwait City
Saturday, December 7, 2024

Bitcoin ETFs Record Unprecedented $6.2 Billion Inflows | Arabian Post

BusinessBitcoin ETFs Record Unprecedented $6.2 Billion Inflows | Arabian Post


Spot Bitcoin ETFs in the United States set a new benchmark, attracting $6.2 billion in November, surpassing the previous record of $6 billion set in February 2024. The surge is attributed to Bitcoin’s strong price momentum and increased market enthusiasm. Bitcoin’s valuation approached $90,000, driven by institutional interest and retail investors responding to positive market signals and the fear of missing out (FOMO).

BlackRock’s iShares Bitcoin Trust emerged as a key player, securing a significant share of these inflows. Other prominent funds, including Fidelity’s Wise Origin Bitcoin Fund and the ARK 21Shares Bitcoin ETF, also saw substantial investments. Notably, Grayscale Bitcoin Trust, which had struggled with outflows for months, recorded a rare positive streak, contributing significantly to the overall growth in inflows.

This surge coincided with regulatory developments, including discussions around the approval of additional Bitcoin ETFs, which many believe could open the doors for wider adoption. Analysts highlight that the consistent inflows signal growing confidence in Bitcoin as an asset class among both retail and institutional investors. The broader implications suggest a maturing market with increasing liquidity and stability.


Notice an issue?


Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don’t hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.




Source link

Check out our other content

Check out other tags:

Most Popular Articles