The accumulated capital flow into the immediate Bitcoin Exchange Traded Funds (ETFs) has exceeded $20 Billion after the US-based products recorded four consecutive days of inflows.
The immediate Bitcoin ETFs have received $20.26 Billion in accumulated capital since the products launched in the US on January 11, according to data from Farside Investors shows.
The first day of October saw $242.6 Million in outflows. Source: Farside Investors data
Over the past four days, around $1.64 Billion has flowed into 11 ETF products from ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity, Valkyrie, BlackRock, Grayscale, Bitwise, Hashdex, and Franklin Templeton.
Notably, on October 16, the world's largest asset manager, BlackRock, received $393.4 Million in capital inflows for the day, the largest amount since July 22, when they received $526.7 Million.
Market participants are optimistic about the capital inflow numbers
Anonymous crypto trader Crypto Lord said to their 344,500 X watchers that they are "not bullish enough" while pointing out that Bitcoin ETFs crossing $20 Billion marks "the fastest growth in ETF history."
ETF Store President Nate Geraci commented on the news, declaring that the products are "just sucking up money."
Bitcoin proponent and Chetan Kaul pondered in an X post on October 17 whether "$30 Billion by year-end" could happen.
Some analysts remain skeptical
The immediate Bitcoin ETF crossing $20 Billion in accumulated capital comes after Bitcoin price surpassed the crucial $65,000 level, a milestone that market participants had been anticipating since it dropped below that on September 30.
Bitcoin is trading at $66,860 at the time of reporting. Source: TradingView
In an analysis on October 17, CryptoQuant collaborator Amr Taha warned that large capital inflows do not always lead to sustained price increases.
"Positive flows over $400 Million in Bitcoin ETFs do not always lead to prolonged price increases and, in many cases, have coincided with price corrections," Taha noted.
On October 17, TinTucBitcoin reported that Bitcoin's significant weekly gains have caused some market participants to be concerned that the market may witness a final adjustment before the asset continues its ascent to new all-time highs.
Bitcoin data firm TheKingfisher noted that:
"The current trading activity around $68.4K is related to the previous volatility from July 29, when the price dropped to $49K just five days later."
