US Bitcoin ETFs Reach Record High In October
According to BlockBeats, on October 20, twelve U.S. spot Bitcoin ETFs achieved their highest total net asset value since their launch in January. These funds currently hold over $66.1 billion worth of Bitcoin, surpassing the previous record of $62.6 billion set in early June.
The value held by these ETFs represents 4.89% of Bitcoin's total market capitalization. The funds experienced their best week of inflows since early March, with over $2.1 billion flowing in, marking the fourth-best week to date and maintaining inflows for six consecutive days.
The recent rise in Bitcoin prices has also contributed to these funds reaching new highs. Bitcoin's price has increased by approximately 12% since October 10, currently exceeding $68,000, which has boosted the value of each ETF.
Since the close of trading on October 10, the last recorded day of net outflows, the total value of Bitcoin held by these funds has increased by about $11 billion. 18 replies
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