⚡︎ OVER 3,000 OFFERS CLAIMED! âšĄď¸Ž

Spot Bitcoin exchange-traded funds (ETFs) saw a significant boost on Nov. 21, attracting $1b in net inflows. This surge in investments was likely driven by the launch of options trading for these funds earlier this week, pushing Bitcoin closer to $100k.

The asset last traded around $98,970, and is up 13% in the last week.

Data from SoSoValue showed that Bitcoin ETFs reached a record cumulative total net inflow of $30.35b on Thursday. Currently, these ETFs oversee assets totaling $105b.

BlackRock’s IBIT led the inflows, drawing $608m in new investments, followed by Fidelity’s FBTC, which gained $300.9m. Additionally, Bitwise’s BITB brought in $68m, while Ark & 21Shares’ ARKB added $17.18m. Grayscale’s GBTC also contributed with $6.9m in inflows.

Institutional Inflows Propel Bitcoin’s Surge as ETFs Attract Major Capital

High inflows into Bitcoin ETFs often indicate that institutional investors, like hedge funds, investment firms, and possibly even retail investors through financial advisors, are increasingly interested in Bitcoin. Institutional adoption typically leads to a more stable and potentially higher price due to the large capital they can deploy.

Bitget CEO Gracy Chen pointed to institutional involvement as the main driver behind Bitcoin’s recent surge. She pointed to the substantial net inflows into BTC ETFs and noted that MicroStrategy adding 51,000 BTC last week is another catalyst.

“Well-known mining companies are planning to issue $850 million in convertible bonds to buy BTC. The massive spot buying power of traditional funds has caused BTC’s price to rise quickly,” Chen said.

Crypto Exec Predicts $100K Pullback, Bernstein Eyes $200K Bitcoin by 2025

She said that reaching $100,000 could be a psychological milestone, causing investors to rethink their positions and possibly leading to a sell-off, similar to what happens with other assets at major price points.

“Therefore, we believe that if BTC breaks through $100K, there is a high probability of a pullback. However, the entry of long-term institutional funds suggests that BTC’s price is far from this point, and a breakout above $100K and further upward movement is only a matter of time,” Chen added.

Bernstein predicts that several major events in 2025 could drive Bitcoin’s value to $200,000. These include the appointment of a new SEC chairman and treasury secretary, reduced regulatory hurdles, progress toward creating a US strategic bitcoin reserve, strengthening the US as a center for BTC mining and implementing a regulatory framework for stablecoins.

The post Bitcoin Spot ETFs See $1B Inflows as BTC Price Inches Near $100K appeared first on Cryptonews.

Leave a Reply

Your email address will not be published. Required fields are marked *

Responsible Gaming

Gambling can turn into an addiction and that’s why you should always make use of the responsible gambling tools made available to you by online operators to help you stay in control of the time and expenditure you invest in online gaming. By law, online operators licensed by the Gambling Commission of Great Britain must provide you with information about responsible gambling and it is their responsibility to create a legal, fair and reliable environment, where players can enjoy the thrill of an online casino. The Gambling Commission of Great Britain licenses and regulates businesses that offer gambling to persons in Great Britain. Our mission is to provide you with only the best online slots experience and that means only reviewing and recommending sites that are licensed to operate by the Gambling Commission.