Bitcoin ETF Boom Fuels Crypto Growth as Ethereum Takes Back Seat

A surge in interest for Bitcoin exchange-traded funds (ETFs) has fueled a significant jump in the crypto market. Data reveals that on October 3rd, $985.08 million flowed into Bitcoin ETFs, with BlackRock’s IBIT ETF dominating the scene by attracting an impressive $791.55 million. This influx highlights growing institutional interest in Bitcoin. While Ethereum’s ETF market witnessed a modest inflow of $233.55 million, its performance has been impacted by a slight decline in investor enthusiasm for the digital asset. Bitcoin’s trading volume jumped beyond $7.5 billion, pushing its market value closer to its all-time high at $122,500 and just 1.1% away from breaking records. The rise in Bitcoin ETFs has contributed significantly to increased liquidity within the market, potentially influencing price surges.