Bitcoin ETF Sees Significant Influx of Institutional Investment
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 15 2024
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Source: Coinmarketcap
Significant Institutional Investment: On October 14, spot Bitcoin ETFs in the U.S. saw a net inflow of $556 million, primarily driven by institutional investors, marking the largest daily inflow since June.
Strong Performance of Leading Firms: Fidelity, Bitwise, and BlackRock led the inflows with $239 million, $100 million, and $79 million respectively, while Grayscale experienced a smaller net inflow of $37 million, indicating renewed investor interest despite lower demand for Ethereum ETFs.
Analyst Views on BTC
Wall Street analysts forecast BTC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BTC is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 39.870
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Current: 39.870
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
