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An altcoin season could take off later this year, driven by the SEC’s expected approval of ETFs for smaller-cap tokens and a rebound in Bitcoin ETF inflows. That’s according to researchers at Bitfinex, who said in research note that such a “rising tide lifts all boats’ environment” is poised for later in the year. Once new crypto ETFs and Bitcoin ETFS start to gain momentum, they are likely to generate sustained demand, the researchers said, adding that this would create the conditions “for a broader re-rating across the digital asset complex.”  That’s as US spot Bitcoin ETFs ended a multi-day outflows streak with $219.1 million inflows on Aug. 25, data from Farside Investors shows. Prior to these positive flows, the funds had posted net daily outflows every day last week. US spot Bitcoin ETF flows (Source: Farside Investors)  The biggest withdrawals for that period happened on Aug. 19, when investors pulled $523.3 mi...

Bitcoin is edging closer to a new all-time high after touching $73.5k on Oct. 29 as daily inflows into US spot BTC ETFs (exchange-traded funds) surged. An $870 million influx into spot Bitcoin ETFs on Tuesday, the third-highest daily total since the investment vehicles launched in January, was led by the $629 million that flooded into BlackRock’s IBIT. Bitcoin Inches Closer To ATH The surge in ETF flows helped power the Bitcoin price higher, with the king of cryptos touching a daily high on Tuesday of $73,577, just shy of its all-time high of $73,750 recorded in March.  This surge in investment into BTC comes amid growing optimism that pro-crypto candidate Donald Trump will win the presidential election next week. Polymarket betting odds show Trump leading Kamala Harris by 66.9% to 33.1%, based on over $2.7 billion in wagers.  The BTC price pared earlier gains to trade at $72,356 as of 05:48 a.m. EST, having jumped 1.6% in the last 24 hours, acc...

Crypto-linked investment products experienced the second-largest inflow of 2024 last week, amounting to $708 million, nearly 99% of which came from Bitcoin.  The U.S. market recorded $721 million in inflows , with the fresh ETFs alone gathering $1.7 billion. According to CoinShares research, spot Bitcoin ETFs have consistently attracted an average of $1.9 billion in capital over the past month, culminating in a total of $7.7 billion since their approval.  Bitcoin ETFs have maintained an average inflow of $1.9 billion over the last four weeks, reaching a cumulative $7.7 billion since they were first introduced in the second week of January. Despite this surge, there has been a $6 billion withdrawal from established funds, including Grayscale and ProShares. However, recent data indicates a noticeable slowdown in these outflows. You might also like: Solana network usage hits all-time high; will SOL price reach $120? Bitcoin ETF investment inflow chart | Source: CoinShares ...