US Bitcoin ETFs have reached a major milestone of $20 billion in net inflows, despite ongoing Bitcoin price declines.
Growth in Bitcoin ETF investments
On October 17, US-based spot Bitcoin ETFs crossed the $20 billion mark in total net inflows. Eric Balchunas, a senior ETF analyst at Bloomberg, highlighted that this is the most difficult metric to grow in the ETF world.
Current Bitcoin price status
Despite continued ETF inflows, Bitcoin's price has remained below $68,300 since June 2024, continuing a seven-month downtrend since March, according to Cointelegraph data.
Comparison with gold ETFs
It only took US spot Bitcoin ETFs 10 months to cross the $20 billion net flow milestone, indicating significant investor interest. In contrast, it took gold ETFs approximately five years to reach this milestone.
Reaching $20 billion in net inflows reflects growing investor interest in spot Bitcoin ETFs despite current market conditions.