|
Title: U.S Bitcoin Spot ETF hits a total net inflow of $1.01 billion in this week. Post by: Iamgoat on September 28, 2024, 06:08:50 AM This Thursday, the bitcoin exchange traded funds ETFs hit a substantial daily net inflow of over 360 million dollars making it the largest recorded since late July this year.
Does this mean the USA have increased in its crypto community in terms of its adoption rate or this was due to government effects? Title: Re: U.S Bitcoin Spot ETF hits a total net inflow of $1.01 billion in this week. Post by: NotATether on September 28, 2024, 06:19:39 AM ETF inflows are from companies and business users, not individuals. That means Bitcoin is getting more popular only with companies, while it's got the same attractiveness to individuals that it had a few months ago.
I am certainly sure that all those companies are not interested in HODLing Bitcoin, but they just want to make a quick buck off of their investment. Title: Re: U.S Bitcoin Spot ETF hits a total net inflow of $1.01 billion in this week. Post by: kryptqnick on September 28, 2024, 06:23:09 AM I first saw this news here, but my first thought was that perhaps the Fed has made its move. From articles I've read, it seems I was right. The Fed lowered the rate by 0.5%, and when the rate gets lowered, investors are motivated to buy shares, the stock market tends to recover. Since Bitcoin ETFs are close in their nature to the stock market, it makes sense that there's been a major inflow of money this week. BTC price is also up by almost 5% over the last 7 days.
It's all good news, but also highly dependent on the Fed. |