According to a report from COINOTAG, as of October 20, twelve U.S. spot Bitcoin ETFs have achieved a historic milestone, amassing a total net asset value exceeding $66.1 billion. This figure not only surpasses the previous record of $62.6 billion established in early June but also represent 4.89% of Bitcoin’s overall market capitalization. The ETFs experienced a remarkable week for capital flows, recording over $2.1 billion in net inflows, marking the best performance since March. Notably, these funds have seen steady inflows for six straight days.
The uptick in Bitcoin prices, which surged approximately 12% from October 10 to over $68,000, has been pivotal in enhancing ETF valuations. From just over $55.1 billion on October 10, the total worth of Bitcoin within these funds has increased by about $11 billion. Among these, BlackRock’s IBIT has shown a substantial increase, adding over $3 billion in asset value, thereby solidifying its position as the top-performing fund during this period.
Source: https://en.coinotag.com/breakingnews/record-highs-for-bitcoin-u-s-spot-etfs-surpass-66-billion-in-total-net-value/