largest in the USA spot Bitcoin 
$72,362 ETFBlackRock’s iShares Bitcoin Trust (IBIT) broke a record on Wednesday with net inflows exceeding $872 million. This marked the highest daily inflow since the fund’s launch in January, surpassing the previous record set in March. According to BTCMarkets analyst Rachael Lucas, this recovery in the IBIT fund can be explained by the tendency of global central banks to reduce interest rates and the impact on investors of Donald Trump’s expectation of a cryptocurrency-friendly administration. Total spot Bitcoin ETF net inflows in the US on Wednesday were $893.21 million. Fidelity’s FBTC stood out with net inflows of $12.57 million, while six other spot Bitcoin ETFs reported more modest inflows.
Investors Turn to Bitcoin Before the US Presidential Election
Spotlight as the US presidential election approaches Bitcoin Interest in ETFs is expected to increase. Lucas said, “Before the election, Bitcoin ETFs stand out as a tool for investors to protect against economic uncertainties,” and emphasized that this period could create high volatility. While survey data and regulatory statements are followed with curiosity among investors, the Federal Open Market Committee (FOMC) meeting planned after the election and the financial reports of technology giants are also watched carefully.
Total spot Bitcoin in the US on Wednesday ETFWhile the cumulative net inflows reached 24.18 billion dollars, the total transaction volume decreased compared to the previous day and remained at 1.97 billion dollars. Bitwise’s BITB recorded a net outflow of $23.89 million, recording the only negative flow on the day.
Spot Bitcoin ETFs in the US Are Close to Overtaking Satoshi Nakamoto
Bloomberg Senior ETF Analyst Eric BalchunasHe stated that BlackRock’s record level of inflows brought the BTC amount of spot ETFs in the USA to 1 million BTC. Balchunas predicts that by the end of November, spot Bitcoin ETFs will surpass the 1.1 million BTC owned by Satoshi Nakamoto to become the largest holder of Bitcoin.
On the other hand spot Ethereum 
$2,641 ETFSmall net inflows were also seen in . FETH reported a net inflow of $5.32 million, while CETH reported a net inflow of $2.66 million. However, Bitwise’s ETHW reported a net outflow of $3.63 million. The total trading volume of spot Ethereum ETFs remained at $220 million, falling short of the intense demand expected in the industry.
In this period when Bitcoin is trading around $72,300 and approaching its all-time peak of $73,500, analysts are evaluating the possibility of a new peak in the short term. Presto Research researcher Min JungHe pointed out a potential breakout movement by saying, “If the $73,800 resistance is overcome, a new rally may begin in the Bitcoin market.”
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
