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Bitcoin ETFs Near 1 Million BTC Milestone as Retail Demand Surges

28.10.2024 18:00 1 min. read Alexander Zdravkov
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Bitcoin ETFs Near 1 Million BTC Milestone as Retail Demand Surges

ETF analyst Nate Geraci has noted a major milestone for Bitcoin exchange-traded funds (ETFs), which are now nearing a collective 1 million BTC in holdings - around 5% of Bitcoin’s total supply.

Last week alone, Bitcoin (BTC) ETFs saw inflows totaling $988 million.

BlackRock’s IBIT ETF dominated inflows, bringing in a remarkable $1.15 billion within one week.

In contrast, spot Ethereum (ETH) ETFs have lagged significantly, attracting only $78.89 million as investors continue to show limited interest.

On October 25, IBIT alone secured $291 million in fresh capital, aligning with Bitcoin’s recent price surge to $68,600.

Data indicates that demand for Bitcoin ETFs is driven mainly by retail investors.

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