- After six days of positive net inflows, the total net asset value held by US-based spot bitcoin ETFs has hit an all-time high of over $66 billion, or over 5% of the total market capitalization of bitcoin.
- The ETFs saw inflows of almost $2 billion in the last week alone, which is a record high since March.
- The SEC has approved the listing of options trading for various spot bitcoin ETFs on the NYSE and Cboe exchanges.
Since the funds’ January inception, the twelve US-based spot bitcoin exchange-traded funds have amassed the largest overall net asset value, setting a new record.
According to SoSoValue data, the funds collectively now own more bitcoin valued at over $66.1 billion, breaking the previous high of $62.6 billion set in early June. A portion of the overall market capitalization of bitcoin, or 4.89%, is held in the ETFs.
The funds recorded inflows of almost $2.1 billion in their fourth-best week to date, extending their current inflow run to six days. This was their greatest trading week for inflows since early March.
The price of bitcoin, the biggest cryptocurrency in the world, has increased by almost 12% since October 10 to reach over $68,000, which has increased the value of each ETF and contributed to the funds setting a new record value.
Since the last trading day on October 10, when a net outflow was reported, the total value of the bitcoin held by the funds has increased by around $11 billion. Over the same period, BlackRock’s IBIT ETF alone saw an increase in asset value of over $3 billion, making it the biggest individual gainer.
On Wednesday, the funds’ total inflows surpassed $20 billion. It took gold ETFs almost five years to reach the same amount.
The SEC recently granted expedited permission to the NYSE and Cboe exchanges to list options trading for a number of exchange-traded funds (ETFs): the ARK21Shares Bitcoin ETF, the Invesco Galaxy Bitcoin ETF, the Franklin Bitcoin ETF, the VanEck Bitcoin Trust, the WisdomTree Bitcoin Fund, the Bitwise Bitcoin ETF, the iShares Bitcoin Trust ETF, and the Valkyrie Bitcoin Fund.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
