Bullish activity has continued to rise as institutional investors keep showing great interest and confidence in spot Bitcoin ETFs. The ETF market is seeing a major uptrend, as daily net inflows hit a remarkable $188 million on Oct. 24, marking a robust period for spot Bitcoin ETFs. It should be noted that there was only a single day of net outflows since Oct. 11.

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The recent $188 million net inflow shows an increase in investor appetite for Bitcoin-backed funds amid a period of rising interest in cryptocurrency-backed ETFs. BlackRock's IBIT ETF stands out, receiving the bulk of inflows, with $165.54 million on Oct. 24 alone, seeing a major portion of the total net inflows in the market. This inflow increased IBIT's net assets to $27.15 billion, a clear indication of the fund’s influence. BlackRock leads market The market status for leading spot Bitcoin ETFs reveals several key data points, highlighting both performance and investor trends. BlackRock's IBIT ETF alone represents a substantial share of total inflows, showing the fund's popularity among institutional and retail investors alike. The inflow brings IBIT’s total cumulative net inflow to $23.69 billion, with a market price of $38.87, up 2.8% daily.

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The performance reflects BlackRock's credibility and the rising demand for Bitcoin exposure via ETFs. BlackRock's lower fee structure of 0.25%, compared to Grayscale's 1.5% for GBTC, makes it an attractive choice for investors seeking to balance cost efficiency and exposure. Grayscale's GBTC saw a modest increase of 2.82% in daily value, despite a net outflow of $7.05 million on Oct 24, pushing its total net assets to $15.05 billion.

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Fidelity's FBTC showed a daily price increase of 2.84%, with net assets totaling $12.60 billion. While Fidelity reported no new inflows, FBTC’s consistent positive performance is noteworthy, as its daily price of $59.72 positions it competitively against peers. This positive trend could pave the way for further growth and innovation in the Bitcoin ETF space, as well as sustained inflows that may drive Bitcoin’s market value forward.