Bitcoin ETF: $14.4B Inflows in First Year

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Bitcoin ETF

Bitcoin ETF interest grows amid market fluctuations and anticipation. The cryptocurrency market has seen some turbulence recently, with Bitcoin experiencing a slight decline today after a drop of over 3% from its recent high of around $35,000. This decrease comes on the heels of the removal of the ticker for BlackRock’s spot Bitcoin ETF, known as IBTC, from the Depository Trust & Clearing Corporation’s (DTCC) website. The presence of the ticker had led investors to speculate about the imminent approval of a spot Bitcoin ETF, which had contributed to the recent surge in BTC’s price from the $30,000 range to over $35,000. At the time of writing, Bitcoin is trading at approximately $34,200, still showing a gain of over 20% in the past week.

Spot Bitcoin ETF approval speculation

The potential approval of a spot Bitcoin ETF has generated significant interest in the market. In fact, the bankrupt crypto exchange FTX has received multiple bids for a potential restart. Investment banker Kevin Cofsky of Perella Weinberg Partners revealed during a court hearing that at least three bidders are vying to purchase the exchange, which at its peak traded tens of billions of dollars daily. A decision on the restart could be made by mid-December, pending approval from the Delaware bankruptcy court. Cofsky’s testimony also led to the successful bid to keep the list of over 9 million FTX customers confidential, as this information could be valuable to a potential buyer.

Bitcoin ETF inflow predictions

According to a research note from crypto fund Galaxy Digital, the issuance of spot Bitcoin ETFs could attract inflows of at least $14.4 billion in the first year alone. The fund suggests that ETFs may be a more favorable investment option compared to existing products like trusts and futures, which currently hold a value of over $21 billion. Galaxy Digital predicts that these inflows could increase to $27 billion in the second year and $39 billion in the third year.

The potential of the U.S. wealth management industry is highlighted in the research note, with assets managed by broker-dealers, banks, and RIAs collectively totaling $48.3 trillion as of October 2023.

Solana-bitcoin ratio breakout

In recent news, the solana-bitcoin (SOLUSD/BTCUSD) ratio has broken out of a prolonged downtrend, indicating that SOL may outperform BTC in the future. Delphi Digital commented that SOL has similarities to Ethereum in the previous cycle, suggesting that there is still significant room for growth.


The anticipation surrounding the potential approval of a spot Bitcoin ETF has not only increased interest in the market but also led to fluctuations in the price of Bitcoin. With the removal of BlackRock’s spot Bitcoin ETF ticker from the DTCC website, investors are left speculating about the future of this investment option. However, the predictions from Galaxy Digital and the growing interest in the restart of the FTX crypto exchange indicate that the market is eagerly awaiting the introduction of a Bitcoin ETF.

As the market continues to evolve and the potential for a Bitcoin ETF becomes more likely, investors should keep an eye on the developments in this space. The potential inflows and the growth of the U.S. wealth management industry make the approval of a spot Bitcoin ETF an exciting prospect for the future of cryptocurrency investments.