Crypto
BTC Price Above Average Cost Basis as Bitcoin ETF Inflows Hit $1.7B
Bitcoin ETF inflows reached $1.7 billion in two sessions as BTC price remained above $86,000.
The recovery reversed mid-September fund withdrawals and placed Bitcoin above an estimated average acquisition cost for U.S. spot ETF investors of $81,722 per coin.
Total net assets across U.S. spot Bitcoin ETFs reached roughly $111 billion on Tuesday, with BlackRock's iShares product remaining the largest by assets.
The concentration of large funds made BlackRock and Fidelity central to daily flow direction, with their products holding more Bitcoin than any competing U.S. spot product.