On October 14, 2024, Bitcoin ETFs experienced a remarkable surge, recording net inflows of $555.86 million. This influx represents the largest single-day inflow in more than four months, signaling renewed investor interest and confidence in Bitcoin.
Among the various Bitcoin ETFs, Farside's FBTC stood out, leading the charge with inflows amounting to $239.25 million. This significant boost in investments corresponds with a positive sentiment in the broader crypto market.
In correlation with the substantial ETF inflows, the price of Bitcoin witnessed an upward trend, reaching a two-week high of $66,500. This price movement further emphasizes the recovery seen in the cryptocurrency market during the period.
While Bitcoin dominated ETF inflows, Ethereum-related ETFs also observed activity, albeit at a more moderate pace, with inflows totaling $17.07 million. This indicates a rising yet cautious interest in Ethereum as market conditions improve.
