US Bitcoin ETF Earns $1.1 Billion This Week!

US-based spot bitcoin exchange-traded funds (ETFs) were approved earlier this year. This was a topic of much discussion. In addition, the price of Bitcoin reached an all-time high after the spot Bitcoin ETF was approved by the United States. However, recently it has created a record in terms of revenue. Because it earned a record amount last week. It has grossed over $1.1 billion in the last seven days. Which is more than the previous record. There are many big investors and huge amount invested in last seven days.

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Just three days ago, it included about $494.4 million. And it's one of the milestones as it's the best-performing day since June 4. Even the past four days have seen an inflow of $366 million into spot Bitcoin ETFs. Spot Bitcoin ETFs have led the way since they were approved, including BlackRock's iShares Bitcoin Trust, ARK 21Shares Bitcoin ETF and Fidelity® Wise Origin® Bitcoin. Their funds are very large and their funds are around $500 million and range from $500 million to over $200 million. Those who lead it.

But not all of the investments that have seen good flows are the same. Not everyone cashed in either, as the WisdomTree Bitcoin Fund recorded no inflows during the week. On the other hand, the Invesco and Galaxy, Franklin Templeton, Valkyrie and Vanek Bitcoin funds have seen inflows between $5.7 million and $33.3 million. It has seen strong inflows since its launch in January. These flows have only increased since the US Fed cut interest rates a few days ago. Which was the US Federal Reserve's interest rate cut a few days ago. Since then we have seen a slight increase in the price of Bitcoin. The US Federal Reserve's cut in interest rates saw Bitcoin's price rise by nearly 13 percent and is currently trading above $65,000.

However, since the beginning of this year in January, after the spot Bitcoin ETF was approved, the price of Bitcoin reached an all-time high in March. At that time, the price of Bitcoin rose above the highest price in history, i.e. $73,000. Bitcoin is currently over $65,000 and is only about 10% down from its all-time high. Today is the 30th of September and from tomorrow the new fourth quantum is going to start which has a good record in the past. If we look at the past periods, we can see that the price of Bitcoin has increased for a good amount of time during the fourth quantum and even the price of Bitcoin increased by 50 percent or more during the fourth quantum period. Even Ethereum products besides Bitcoin saw inflows of just over $1.1 billion, factoring in the $2.9 billion outflow from the Grayscale Ethereum Trust.