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On October 11, U.S.-based spot Bitcoin exchange-traded funds (ETFs) witnessed $253.6 million in net inflows, marking a rebound after three consecutive days of outflows.
Leading the inflows was the Fidelity Wise Origin Bitcoin Fund, which recorded $117.1 million in net investments. Not far behind was the ARK 21Shares Bitcoin ETF, attracting $97.6 million, according to Farside Investors data.
Other Contributors
Other notable contributors included the Bitwise Bitcoin ETF, which saw its largest inflow in 11 trading days, totaling $38.8 million. Invesco Galaxy and VanEck Bitcoin ETFs also registered positive inflows during the same period. Despite this surge across the board, BlackRock’s iShares Bitcoin Trust (IBIT), one of the most prominent Bitcoin ETFs, saw no new inflows, marking the third time this has occurred on a major inflow day.
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Fidelity’s Near $10 Billion Milestone
The large inflow into Bitcoin ETFs followed a 7.3% rally in Bitcoin’s price, pushing it to a local high of $63,360 on October 11. As of the latest data, Bitcoin is trading around $62,530, slightly cooling off from its recent peak. The recent inflow has more than compensated for the $140 million that exited the Bitcoin ETFs between October 8 and 10.
Fidelity is on the cusp of a major milestone, needing just $15 million to surpass $10 billion in total net inflows. Meanwhile, BlackRock continues to dominate the space, with a staggering $21.7 billion in total net inflows, solidifying its leadership position among Bitcoin ETF issuers. The ARK 21Shares and Bitwise funds are the only other issuers to have surpassed $2 billion in net inflows.
Ethereum ETFs Struggle to Gain Traction
While Bitcoin ETFs enjoyed substantial inflows, spot Ethereum ETFs have had a rough ride. On October 11, seven of the nine U.S.-based spot Ether ETFs reported “0” flows for the third time in five days. The combined spot Ether ETF net flow amounted to a mere $0.1 million in outflows, with Fidelity’s Ethereum Fund being the sole contributor of inflows.
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Adding to the struggles, the Grayscale Ethereum Trust recorded an $8.7 million outflow. The 21Shares, VanEck, and Invesco-issued Ether ETFs have seen consecutive days with no inflows.
Meanwhile, as of writing, Bitcoin is trading around $62,800, up by over 2% in the past 24 hours. On the other hand, Ether stands above $2,450, marking a 1.5% rise during the same period.
