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As the leading experts in the stock market, trading, and all things Wall Street, Extreme Investor Network is dedicated to providing you with unique and valuable information that you won’t find anywhere else. Today, we bring you the latest updates on the BTC-spot ETF market and the surging demand for Bitcoin.
BTC Reaches $88,000 Amid Growing Demand in US Spot ETF Market
The US BTC-spot ETF market has been on a roll, with a four-session streak of net inflows. This surge in demand can be attributed to various factors, including Trump’s declaration to make BTC a US strategic reserve and the potential replacement of SEC Chair Gary Gensler. On November 8, the market reported net inflows of $293.4 million, with a significant increase on November 11 as BTC breached the $80k mark over the weekend.
Some key highlights include:
- Fidelity Wise Origin Bitcoin Fund (FBTC) saw net inflows of $135.1 million
- ARK 21Shares Bitcoin ETF (ARKB) saw net inflows of $108.6 million
- Bitwise Bitcoin ETF (BITB) had net inflows of $42.7 million
- Grayscale Bitcoin Mini Trust (BTC) and Grayscale Bitcoin Trust (GBTC) reported net inflows of $28.2 million and $24.2 million, respectively
The US BTC-spot ETF market saw a total of $348.9 million in net inflows, signaling a growing interest in Bitcoin-related products.
Bloomberg Intelligence Senior Analyst Eric Balchunas commented on the market flows, noting the rapid growth in assets in US spot bitcoin ETFs compared to gold ETFs. With BTC reaching an all-time high of $88,398, the future looks promising for Bitcoin investors.
Bitcoin (BTC) Price Action
On November 11, BTC surged 9.40% to close at $87,686, marking a seven-session winning streak. As we approach Inauguration Day on January 20, keeping an eye on market trends and regulatory developments will be crucial for investors.
Keep following Extreme Investor Network for real-time updates and insights on market shifts that could impact the future of XRP and BTC. Trust us to provide you with exclusive information that will help you make informed investment decisions.