Spot Bitcoin ETFs Flex with Fresh All-Time High
A wild wave hit the market today, with 12 U.S.-based spot Bitcoin ETFs pulling a slick new move. Collectively, they’re now sitting on over $66.1 billion in Bitcoin—obliterating the prior peak of $62.6 billion from June. SoSoValue data came through, showing these ETF juggernauts now clutching 4.89% of Bitcoin’s total market cap, a figure that’s definitely turning heads.
But don’t think it’s just about fat bags being stacked. Bitcoin’s price has been acting all kinds of spicy, jumping a solid 12% since Oct. 10. This price pop supercharged the ETF funds, inflating their value like a balloon ready to burst. Each ETF is sitting pretty because Bitcoin itself has rocketed past $68K. The whole ETF gang saw their collective Bitcoin bags grow by an insane $11 billion just in the past few days, as the coin’s price action lit a fire under the entire space.
Inflows Piling In Like There’s No Tomorrow
Now here’s where things get interesting. Not only are the ETFs riding high on the price surge, but they’ve also been eating up inflows like they’re on a cheat day. Over $2.1 billion flowed into these ETFs in one of their hottest weeks since early March. And this isn’t just a one-off—Bitcoin ETFs been racking up a solid six-day streak of inflows, which pushed their total intake over the $20 billion mark. Bloomberg’s Eric Balchunas threw in his two sats, saying hitting that mark is no joke. For reference, it took gold ETFs five long years to hit that number, and Bitcoin ETFs did it in just a matter of months.
Leading the charge is BlackRock’s IBIT ETF, snagging over $3 billion during this bullish wave. Every day since October 10, when the last outflow was seen, the funds have been stacking more Bitcoin, showing no signs of slowing.
SEC Greenlights Options on Major Bitcoin ETFs
The SEC didn’t sleep on this one either. They fast-tracked approval for options trading on several major Bitcoin ETFs, giving funds like ARK21Shares, Fidelity Wise Origin, and the VanEck Bitcoin Trust the green light to enter the options game. But, timelines on when these ETFs will start trading options are still up in the air. What’s clear, though, is that traditional finance is latching onto Bitcoin harder than ever.
This space just keeps stacking wins.
Drop Your 2 Sats 👇
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