Key Takeaways
- US spot Bitcoin ETFs saw $555 million in net inflows on October 14.
- Bitcoin’s price surged 6.3%, exceeding $66,000 before settling at $65,500.
- Fidelity's FBTC led the inflows with $239.3 million, followed by Bitwise’s BITB at $100.2 million.
US spot Bitcoin ETFs recorded a substantial net inflow of $555.9 million on October 14, signaling renewed investor interest in Bitcoin.
This marks the highest net inflow since June, coinciding with a 6.3% surge in Bitcoin’s price, pushing it above $66,000 before a slight retracement to $65,500.
ETF volume
Total trading volume for Bitcoin ETFs reached $2.78 billion, the highest since August 25.
Fidelity’s FBTC led the inflows, contributing $239.3 million, while Bitwise’s BITB followed with $100.2 million. Grayscale’s GBTC, which has often seen sell-offs, also attracted $37.8 million in purchases.
Bloomberg analysis
Bloomberg analysts attribute the recent Bitcoin price rally to growing optimism about the upcoming US presidential election, with candidates like Trump promising to replace SEC Chair Gary Gensler.
Despite this, Blackrock CEO Laurence Fink stated that the election outcome may not significantly impact Bitcoin, emphasizing the global institutional interest in the asset.
