This week, Bitcoin ETFs showed significant inflows, surpassing $235 million. Fidelity and BlackRock are recognized as leaders in terms of investment volume attracted.
Impact of Bitcoin ETFs on the Market
Since the beginning of the year, Bitcoin ETFs have become the main bullish catalyst for the cryptocurrency market. Their performance is closely monitored by the community as they serve as an important indicator of institutional investors' interest in cryptocurrencies.
Decline and Recovery of Flows
October started with $242 million worth of outflows from Bitcoin ETFs, with negative flows recorded for three consecutive days. However, the situation changed, and a significant inflow was registered this week.
BlackRock's Position and Growth Perspective
Robbie Mitchnick, head of digital assets at BlackRock, expressed that he views Bitcoin as a risk-off asset. This opinion contrasts with the common belief that Bitcoin is closely correlated with the stock market.
Bitcoin ETFs have once again sparked significant investor interest, which may serve as a catalyst for Bitcoin price growth in the near future.