CandleFocus

US spot Bitcoin ETFs hit $1 billion in three days, BlackRock and Fidelity lead

US spot Bitcoin ETFs have experienced a significant surge in net purchases, surpassing $1 billion in the last three trading days. Fidelity and BlackRock have standout performances, attracting around $760 million combined during this period. The ETFs saw a brief outflow streak that ended last Friday, and on Monday, they logged almost $556 million in net inflows, the highest level since early June. BlackRock's IBIT and Fidelity's FBTC were the top performers. Other competing funds also saw gains, and Grayscale's GBTC and BTC have extended their winning streak. The inflows coincide with a Bitcoin rally, with the price nearing $68,000 and approaching its all-time high. Analysts predict that Bitcoin could reach $73,800 ahead of the US presidential election, particularly if Donald Trump has improving odds for re-election.

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