Spot bitcoin exchange-traded funds recorded inflows for the fifth consecutive day on Oct. 17, with BlackRock’s IBIT leading the gains for the third straight session.

On the day, the 12 spot Bitcoin ETFs saw combined inflows of an impressive $470.48 million, marking a total cumulative inflow of more than $2.1 billion over the past five trading days.

BlackRock’s IBIT ETF led the surge in inflows, attracting $309 million on Oct. 17, according to SoSoValue. The performance marked the third consecutive day that IBIT led the way.

While BlackRock’s IBIT ETF led the way, other major players also contributed to the continued inflows. ARK Invest and 21Shares’ ARKB ETF saw inflows of $100.2 million, while Grayscale’s GBTC ETF attracted $45.7 million.

Additional support was provided by Fidelity’s FBTC, which recorded $11.96 million in inflows, and Franklin Templeton’s EZBC, which recorded $3.88 million. However, the other seven spot Bitcoin ETFs remained neutral, with no inflows on October 17.

With these continued inflows, total net inflows into spot Bitcoin ETFs surpassed the $20 billion mark, standing at $20.66 billion as of October 17.

In an Oct. 17 post, Bloomberg ETF analyst Eric Balchunas highlighted the significance of the achievement, noting that surpassing the $20 billion threshold is one of the most challenging and critical metrics in the ETF world. He compared the milestone to gold ETFs, which took about five years to reach the same level.

Nate Geraci, president of the ETF Store, echoed these sentiments, describing the current inflow trend as a “vacuuming” of capital.

The cumulative inflows of over $20 billion into spot Bitcoin ETFs coincided with the rise of Bitcoin prices above the key level of $65,000, a milestone that investors have been eagerly awaiting since the price fell below that level on September 30.

At press time, Bitcoin is trading at $67,839, up 0.7% over the past 24 hours. Its intraday price ranged between $66,738 and $68,159, continuing the bullish momentum in the market.

$BTC Bitcoin

Spot Ethereum ETF rises slightly

Meanwhile, Ethereum-focused ETFs have also seen positive inflows. On October 17, the nine available spot Ethereum ETFs saw a total inflow of $48.41 million, up from $24.22 million the day before.

Fidelity’s FETH and BlackRock’s ETHA ETFs led the pack, 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, with inflows of $5.13M, $2.33M, $1.49M, and $518.64K, respectively.

Despite these recent gains, the spot Ethereum ETF has seen net outflows of $481.9 million year to date, reflecting the asset’s greater volatility in the current market environment. At the time of writing, Ethereum is trading at $2,619.

$ETH Ethereum




It should be emphasized that this article is for reference only and does not represent investment advice.