U.S. spot Bitcoin ETFs have experienced a significant influx of funds, totaling $2 billion in net inflows. This surge in interest is largely attributed to the recent approval of options trading for these ETFs.
ARK Invest’s ARKB and BlackRock’s IBIT led the pack in terms of inflows, attracting substantial sums from investors. Other notable funds that saw significant inflows include Bitwise’s BITB, VanEck’s HODL, Fidelity Bitcoin ETF (FBTC), and Invesco’s BTCO.
Grayscale’s GBTC, which had historically seen outflows, reversed this trend, attracting over $91 million in net inflows.
The U.S. Securities and Exchange Commission (SEC) has given the green light to the NYSE and CBOE to list options for spot Bitcoin ETFs. This approval has paved the way for 11 ETF providers, including major players like Fidelity, ARK Invest, and Grayscale, to offer options on popular Bitcoin ETFs.
Analysts at Standard Chartered are optimistic about Bitcoin’s future, predicting a potential return to its all-time high of $73,800. This forecast is particularly noteworthy given the upcoming U.S. presidential election, as a re-election of Donald Trump could create a favorable environment for the cryptocurrency industry.