$92 million in BTC ETF Inflow Recorded as BTC/GLD is Expected to Rise by 400%

The 20th day of September recorded a significant inflow for Bitcoin ETFs. With about $92 million worth of inflows recorded, suggesting widespread positive sentiment for many Bitcoin ETFs, it is also expected that the BTC/GLD pair will be influenced.

Data from Farside revealed some interesting figures for some ETFs hosted on the BTC framework. The largest inflow was seen by Fidelity’s FBTC which saw $26.1 million come in. The next in line was the ARKB ETF of Ark Investment Management, which saw $22 million come in in inflows. 

The BITB ETF of Bitwise came in next with $15.1 million inflows recorded. The smaller of Grayscale’s bitcoin ETF recorded $13.4 million in inflows. $5.2 million and $7.1 million came in for the BRRR ETF of Valkyrie and the HODL ETF of VanEck, respectively. With $3.1 million in inflows, BTCO of Invenco also registered its name on the inflow list. 

Despite the exposure of BTC ETFs some ETFs failed to record any inflow as they remained flat for the day. BTC ETFs that stayed flat for the day include GBTC fund, which is the larger of Grayscale’s ETFs, BTCW of WisdomTree, and EZBC of Franklin, among others. 

With increasing exposure and positive sentiment for BTC ETFs, it is expected that BTC will gain 400% against gold in a few months. Analyzing the possibility, Peter Brandt, an expert in crypto forecasts, predicts a rise in BTC’s value against gold using some indices.

Brandt’s prediction is inspired by an inverse head-and-shoulders classic pattern which may see BTC break into a very bullish position. Corroborating the possibility of the bullish, BTC’s market cap has grown by over 350,000% since it was introduced to the market in comparison to gold.