In the last full trading week ahead of the highly-anticipated US presidential elections, the 11 locally-based spot Bitcoin ETFs registered their best week in terms of net weekly flows since March.<\/p>\n
At the same time, the asset\u2019s price skyrocketed to almost a new all-time high, but lost a lot of momentum in the following days.<\/p>\n
It\u2019s safe to say that October has been a particularly positive month for the spot Bitcoin ETFs<\/a>. Their streak began on October 11, and they have seen only two days of net outflows out of a total of 16 since then. As reported<\/a> last Sunday, the funds attracted slightly over $2 billion during that trading week, and the numbers only rose during this one.<\/p>\n Monday saw $479.4 million being poured in, followed by $870.1 million on Tuesday, and $893.3 million on Wednesday. After these two consecutive notable days, investors cooled off on Thursday ($32.3 million) and withdrew $54.9 million on Friday.<\/p>\n Overall, the total number for the trading week stands at $2,220.2 billion, according<\/a> to Farside. This makes it the best week since March 11-15.<\/p>\n More good news came for BlackRock\u2019s IBIT, which broke its record<\/a> for best inflow day on Wednesday, with $872 million. It now has more than $26 billion in AUM after attracting another $315.2 million on Monday, $642.9 million on Tuesday, and $318.8 million on Thursday.<\/p>\n BTC\u2019s price actions were impacted at the start of the week by the inflows, as the asset skyrocketed to $73,600 on Tuesday. However, it has lost over five grand in the following days, perhaps due<\/a> to the sudden change of odds for the self-proclaimed pro-crypto US presidential candidate \u2013 Donald Trump.<\/p>\n After being live for trading since late July, it\u2019s pretty obvious that the spot Ethereum ETFs<\/a> cannot even come close to their Bitcoin counterparts for interest, demand, and, most importantly, inflows. The past five trading days served as another confirmation of this.<\/p>\n The ETH ETFs registered minor inflows of $7.6 million on Tuesday, $4.4 million on Wednesday, and $13 million on Thursday. Net outflows were seen on Monday ($1.1 million) and $10.9 million on Friday. Overall, they were in the green, but in a modest fashion of $13 million.<\/p>\n ETH\u2019s price is down by 1.8% on a weekly scale and struggles to remain above $2,450.<\/p>\n The post Record-Setting Week for Bitcoin Funds Ahead of US Elections: ETF Recap<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" In the last full trading week ahead of the highly-anticipated US presidential elections, the 11 locally-based spot Bitcoin ETFs registered their best week in terms of net weekly flows since March. At the same time, the asset\u2019s price skyrocketed to almost a new all-time high, but lost a lot of momentum in the following days. […]<\/p>\n","protected":false},"author":0,"featured_media":17555,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17554"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17554"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17554\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17555"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}And How Are ETH ETFs Doing?<\/h2>\n