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The inflow into Spot Bitcoin ETFs has accelerated as Bitcoin’s price surpasses $65,000 for the first time in nearly two months. This trend appears to coincide with a global interest rate reduction, leading to a resurgence of institutional interest in Bitcoin ahead of a potential fourth-quarter bull run.
On Thursday, September 26, total inflows into Spot Bitcoin ETFs reached $365 million, marking the highest daily inflow of September. Additionally, the sustained inflow into ETF products for six consecutive days is noteworthy.
Ark Invest’s BTC ETF (ARKB) leads with an inflow of $113 million, followed closely by BlackRock’s IBIT ETF with $93.4 million. BlackRock has increased its Bitcoin holdings to 359,606 BTC, making it one of the largest investors.
Recently, the inflows into Spot Bitcoin ETFs have coincided with strong trading volumes. BlackRock’s IBIT ETF tops the list with a trading volume of $1.52 billion, while the ProShares Bitcoin Strategy ETF (FBTC) follows with $355 million.
In addition to Bitcoin ETFs, institutions are gearing up for a significant Bitcoin rally in Q4 amidst global interest rate reductions. Chinese investors are turning to Bitcoin due to fragile economic conditions, with QCP Capital stating:
We expect further easing from the PBoC, and they have communicated this. With the Fed joining the global interest rate cut cycle, all major central banks except the BoJ are poised to provide more liquidity to the market.
According to Arthur Hayes, this influx of liquidity could trigger a volatility supercycle. Hayes suggests that Bitcoin will gain value in this environment, asserting that BTC is the most technical way for the ruling elite to balance expenditures in the modern digital world.
Statements from institutions and analysts indicate that the growing popularity of Spot Bitcoin ETFs and institutional interest could significantly impact the Bitcoin market in the near future.
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