Spot Bitcoin ETFs will need to make an average of $301 million in net inflows per day to get it done this week.
The United States spot Bitcoin exchange-traded funds (ETF) are set to scoop up its one-millionth Bitcoin as soon as this week as traders gear up for potential crypto tailwinds in November.
These tailwinds include the US election, the Federal Reserve potentially lowering interest rates, and Russia lifting its Bitcoin mining ban — all taking place in November.
The US spot Bitcoin (BTC) ETF issuers currently hold 976,893 Bitcoin, worth over $66.2 billion, which nearly makes up almost 5% of Bitcoin’s $1.34 trillion market cap, Apollo and SoSoValue data shows.
