On October 30, 2024, U.S. spot bitcoin ETFs experienced more than $870 million in net inflows, driven largely by BlackRock's IBIT, which saw a remarkable $629 million in a single day. This influx of investments occurred as bitcoin approached its all-time high, amidst heightened volatility expected from the upcoming U.S. elections. Other notable ETFs included Fidelity’s FBTC with $133 million, Bitwise’s BITB at $52 million, and Grayscale's mini bitcoin trust at $29 million. In contrast, Grayscale’s bitcoin trust recorded outflows of $17 million. Trading volumes surged to over $4.75 billion, the highest since March, with IBIT alone accounting for $3.3 billion. Analysts anticipate further inflows fueled by ‘Fear Of Missing Out’ among investors. Strong inflows signal rising confidence in the asset, which can lead to pricing pressure even though the inflows don't directly affect ETF values. As BTC continues to climb, some traders predict it could reach $80,000 in November, regardless of election outcomes.

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