Key Points
US Bitcoin ETFs recorded renewed inflows, with BlackRock’s IBIT seeing $314 million influxes.
BTC bounced back above $67,000 and was mentioned by top lawmakers at the BRICS summit.
Yesterday, the US Bitcoin ETFs recorded new inflows following a day of outflows on October 22, pushing BTC’s price back above $67,000, along with other catalysts.
In-Depth Data on Bitcoin ETFs Inflows
On October 23, two Bitcoin ETFs recorded inflows:
BlackRock's Bitcoin ETF, IBIT, has seen over $1.5 million in inflows.
Grayscale’s Bitcoin ETF, BTC, saw over $4.7 million in inflows.
Three Bitcoin ETFs saw daily capital outflows :
Ark Invest and 21Shares' Bitcoin ETF, ARKB, has over $99 million in outflows.
Bitwise’s Bitcoin ETF, BITB, recorded over $25 million in outflows.
VanEck’s Bitcoin ETF, HODL, saw over $5.6 million in outflows.
Other Bitcoin ETFs saw no inflows yesterday.
According to SoSoValue’s official data, the total net assets locked in US crypto products exceeded $1.3 billion as of October 23, while their cumulative net assets exceeded $21.3 billion. Yesterday’s inflows in Bitcoin ETFs have supported Bitcoin in regaining prices above $67,000, following a price dip to $65,000 levels on October 23.
Bitcoin Trades Above $67,000
At the moment of writing this article, BTC is priced above $67,300, following a price drop near $65,200 yesterday.
Earlier, BTC’s price climbed close to $67,500, before stabilizing around $67,300 levels.
Bitcoin’s price rebound coincided with new inflows in BTC ETFs and with the coin becoming a topic during talks at the BRICS summit.
Bitcoin Was Mentioned During the 16th BRICS Summit
On October 22, the 16th BRICS summit debuted in Kazan, Russia, and official notes from Bloomberg revealed that Bitcoin was one of the subjects addressed at the meetings.
Head of digital assets research at VanEck, Matthew Sigel, shared a post via X yesterday, citing information from Bloomberg, highlighting that top lawmakers pushed the idea that Russian miners could sell their BTC reserves to international buyers who would use the coins to pay for imports.
In other words, he suggested that Bitcoin could become a way for Russia to bypass the Western sanctions imposed on the country after the debut of the Ukraine war.
Sanctions have hit Russia hard, but crypto could provide an alternative to traditional financial systems that rely on the US dollar and the banks.