On October 17, spot Bitcoin exchange-traded funds (ETFs) marked their fifth consecutive day of inflows, led once again by BlackRock’s IBIT for the third straight session.
The total inflows for the 12 spot Bitcoin ETFs reached an impressive $470.48 million on that day, bringing the cumulative total to over $2.1 billion over the past five trading days.
According to data from SoSoValue, BlackRock’s IBIT ETF was a standout performer, attracting $309 million on October 17, maintaining its leadership for the third day in a row. Other significant contributors included ARK Invest and 21Shares’ ARKB ETF, which saw inflows of $100.2 million, and Grayscale’s GBTC ETF, which pulled in $45.7 million. Fidelity’s FBTC and Franklin Templeton’s EZBC also added $11.96 million and $3.88 million, respectively. However, seven other spot Bitcoin ETFs reported no inflows on that day.
With these ongoing inflows, the total net inflows into spot Bitcoin ETFs surpassed the $20 billion mark, reaching $20.66 billion as of October 17.
Analyst Insights
In a post on October 17, Bloomberg ETF analyst Eric Balchunas highlighted the significance of this achievement, noting that crossing the $20 billion threshold is a critical metric in the ETF landscape. He likened this milestone to gold ETFs, which took about five years to reach similar levels. ETF Store president Nate Geraci echoed these sentiments, describing the current inflow trend as a “vacuuming up” of capital.
The surge in spot Bitcoin ETF inflows coincided with Bitcoin’s price rising above the key $65,000 level, a milestone investors had been eagerly anticipating since the price dipped below it on September 30. At press time, Bitcoin was trading at $67,839, reflecting a 0.7% increase over the last 24 hours, with intraday prices ranging between $66,738 and $68,159.
Ethereum ETFs Also Experience Gains
Meanwhile, Ethereum-focused ETFs have also seen positive movement. On October 17, the nine available spot Ethereum ETFs recorded a combined inflow of $48.41 million, building on the previous day’s $24.22 million.
Fidelity’s FETH and BlackRock’s ETHA ETFs led the way, attracting $31.12 million and $23.56 million, respectively. Other contributors included Grayscale’s Ethereum Mini Trust, 21Shares’ CETH, Biwise’s ETHW, and Invesco’s QETH, which brought in inflows of $5.13 million, $2.33 million, $1.49 million, and $518.64K, respectively.
Despite these recent gains, spot Ethereum ETFs have seen a cumulative total net outflow of $481.9 million to date, indicating the asset’s more volatile nature in the current market. At the time of writing, Ethereum was trading at $2,619.
