Bitcoin ETFs Soar to $1 Billion in Inflows in Just Three Days

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US spot Bitcoin ETFs have experienced a significant increase in net purchases, surpassing $1 billion over the past three trading days, as reported by Farside Investors. Fidelity and BlackRock have emerged as leaders, collectively drawing nearly $760 million during this period.

The inflow returned to positive numbers last Friday with Bitcoin ETFs attracting $253 million, putting an end to a brief three-day outflow. On Monday, these funds reported approximately $556 million in net inflows, marking the highest influx since early June.

On just yesterday, ETF net purchases exceeded $371 million without any redemptions noted. BlackRock’s IBIT attracted the largest share, accumulating over $288 million, while Fidelity’s FBTC captured around $35 million.

Other rival funds managed by Bitwise, Ark Invest/21Shares, VanEck, WisdomTree, and Grayscale also saw gains. Grayscale’s GBTC and BTC have maintained their winning streak for two consecutive days.

These inflows surged alongside a Bitcoin price rally, overcoming the $65,000 mark on Monday and approaching $68,000 yesterday, according to CoinGecko data. Bitcoin is now just 9% shy of its all-time peak.

Analysts from Standard Chartered suggest that Bitcoin could reach its previous high of around $73,800 before the US presidential election.

The analyses also highlight that the improving chances of Donald Trump’s re-election could foster an advantageous landscape for Bitcoin, which has historically been viewed favorably by many within the cryptocurrency community during his presidency.