Spot Bitcoin exchange-traded funds (ETFs) in the United States have achieved a significant milestone of $20 billion in total net flows as of October 17, 2024. This milestone reflects strong investor interest, with a notable inflow of $1.5 billion in just one week. Despite this record activity in ETF net flows, Bitcoin's price has remained stagnant, unable to surpass the $68,300 mark since June 2024. Furthermore, Bitcoin has been in a seven-month downtrend since March 2024. As highlighted by Eric Balchunas, a senior ETF analyst at Bloomberg, reaching the $20 billion net flow is a critical metric for ETFs and much harder to achieve compared to other asset classes. In comparison, gold ETFs took around five years to reach this milestone, indicating a relative speed in Bitcoin ETF adoption.

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