The spot Bitcoin ETFs recorded a total net inflow of $875.61 million on October 7 and have recorded seven days of positive flows. BlackRock's IBIT was the most popular among spot Bitcoin ETFs, with $899.42 million in inflows that day.
Fidelity's FBTC did not record any outflows, while Grayscale's GBTC recorded an outflow of $28.62 million. Valkyrie BRRR and Ark Invest's ARKB recorded a minimal inflow of funds.
The high inflow of funds means that Bitcoin as an investment tool is gaining popularity. BlackRock's Bitcoin ETF is about to become the largest ETF, with assets under management of nearly $100 billion. IBIT is BlackRock's most profitable fund to date, reinforcing its dominance in the ETF landscape.
Capital inflows continue to soar, bringing it closer to this historic milestone. Once reached, it will become one of the largest ETFs in the world. Although it has not yet reached two years, its growth has been extraordinary.