Yesterday, spot Bitcoin 
$66,872 ETFThere was a total net inflow of 192 million dollars. This shows that investors’ interest in Bitcoin is increasing and confidence in the market continues. These entries, arriving on October 23, are especially BlackRock‘s spot Bitcoin ETF attracted attention with large investments in the IBIT ETF. IBIT outperformed other ETFs with net inflows of $3.17 billion.
Difference Between BlackRock and Grayscale ETFs
Yesterday, GrayscaleThere was no outflow from ‘s GBTC ETF. However, let us note that there has been a total net outflow of 20.01 billion dollars from GBTC so far.
On the other hand, Grayscale’s smaller scale Bitcoin Mini Trust ETFreached a total net inflow of 4.24 billion dollars. There was only a net inflow of $4.7 million into the fund on October 23. Latest figures show that investors are largely turning to funds from large companies such as BlackRock.
Impact of Spot Bitcoin ETFs on the Market
Spot Bitcoin The total asset value of its ETFs reached $64.88 billion. The ratio of 12 spot Bitcoin ETFs in the USA to the total market value of Bitcoin increased to 4.86 percent. Historically, total net inflows into spot Bitcoin ETFs were recorded at $21.43 billion. Data shows that the influence of the largest cryptocurrency on financial markets is increasing and institutional investors’ interest in Bitcoin continues.
This intense interest observed in spot Bitcoin ETFs reveals that investors maintain their confidence in Bitcoin despite the high volatility in the market. The fact that especially large investment companies have turned to this field is considered a sign that the largest cryptocurrency will find more space in the traditional finance world.
With current data, Bitcoin is trading at $67,041 with an increase of 0.42 percent in the last 24 hours. Data is the biggest cryptocurrencyIt shows that TL decreased by 0.25 percent in the weekly period.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
