TL;DR
- Record Inflows: Bitcoin ETFs have attracted a record $2.11 billion in the past five days, with a significant daily inflow of $470 million on October 17.
- Leading Players: BlackRock’s iShares Bitcoin Trust ETF (IBIT) led with $309 million in inflows, followed by ARK Invest’s ARK 21Shares Bitcoin ETF (ARKB) and Grayscale’s GBTC fund.
- Milestone Achievement: The combined inflows of all US-listed spot Bitcoin ETFs surpassed $20 billion for the first time, highlighting growing institutional adoption and confidence in Bitcoin.
Bitcoin exchange-traded funds (ETFs) have seen unprecedented inflows, with a total of $2.11 billion pouring in over the past five days. This surge in investment highlights the growing institutional interest in Bitcoin as the market anticipates a significant bull run.
On Thursday alone, Bitcoin ETFs recorded a daily inflow of $470 million, with BlackRock’s iShares Bitcoin Trust ETF (IBIT) leading the charge.
The IBIT fund attracted over $309 million in inflows on October 17, bringing its total assets under management to approximately $25.79 billion. This consistent influx of capital has resulted in a net inflow of $1.07 billion for the week, with a trading volume reaching $5.47 billion.
Other Major Players Join the Fray
BlackRock is not the only asset manager benefiting from the bullish sentiment. ARK Invest’s ARK 21Shares Bitcoin ETF (ARKB) secured more than $100 million in institutional investments, making it the second-best performer after IBIT.
ARKB now accounts for 0.26% of Bitcoin’s market share, with cumulative net inflows totaling $2.75 billion. Over the past week, ARKB has seen inflows of $196.17 million.
Grayscale Investments also reported positive results, with its GBTC fund experiencing a net inflow of $45 million on Thursday, despite a relatively inactive day prior. In total, GBTC has brought in approximately $91.47 million this week.
Fidelity Investments and Franklin Templeton also saw notable inflows, with their respective funds, FBTC and EZBC, attracting $11.69 million and $3.88 million in daily inflows.
A Milestone Achievement for Bitcoin ETFs
The $470 million inflow on Thursday marked a significant milestone, as the combined inflows of all US-listed spot Bitcoin ETFs surpassed $20 billion for the first time since their launch in January.
This achievement underscores the growing acceptance and adoption of Bitcoin ETFs among institutional investors. Bloomberg senior ETF analyst Eric Balchunas highlighted the significance of this milestone, noting that it took gold ETFs a longer period to reach the same level of inflows.
According to Balchunas, reaching $20 billion is “one of the most challenging metrics to grow” in the ETF world. While Bitcoin ETFs are enjoying robust demand, their Ethereum counterparts continue to face challenges in attracting investor interest.
However, Thursday saw a reversal of this trend, with Ethereum ETFs registering a notable inflow of $48 million. BlackRock’s ETHA led the pack, securing $23.56 million, followed by Fidelity’s FETH, which attracted $31.12 million.
This surge in Bitcoin ETF inflows reflects the broader market sentiment and the increasing confidence of institutional investors in the potential of cryptocurrencies. As the market continues to evolve, the performance of these investment vehicles will be closely watched by investors and analysts alike.
