US Spot Bitcoin ETFs Set to Continue to Drive Huge Inflows

U.S. spot Bitcoin ETFs may collectively hold 1 million Bitcoin as soon as this week, as favorable market factors could drive strong inflows into the asset. Traders are anticipating several potential tailwinds in November, including the U.S. election, a possible Federal Reserve rate cut, and Russia’s decision to lift its Bitcoin mining ban. Currently, U.S. spot Bitcoin ETF issuers hold 976,893 Bitcoin, valued at over $66.2 billion, nearly 5% of Bitcoin’s total $1.34 trillion market cap, according to data from Apollo and SoSoValue. To reach the 1 million Bitcoin mark, ETFs would need around $1.55 billion in new inflows, which