United States-based spot Bitcoin ETFs exchange-traded funds tallied $253.6 million in net inflows on Oct. 11 — breaking three consecutive trading days of outflows.
The Fidelity Wise Origin Bitcoin Fund led all with a net inflow of $117.1 million, while the ARK 21Shares Bitcoin ETF saw $97.6 million, Farside Investors data shows.
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The Bitwise Bitcoin ETF raked in $38.8 million — its largest in 11 trading days — while the Invesco Galaxy and VanEck Bitcoin ETFs saw inflows too.
BlackRock’s iShares Bitcoin Trust (IBIT) recorded a “0” flow on the day, as did the Bitcoin ETFs issued by Franklin Templeton, Valkyrie and WisdomTree.
It was the third-largest combined inflow day in which BlackRock’s IBIT failed to contribute.
Meanwhile, the Grayscale Bitcoin Trust bled another $22.1 million.
The $253.6 million inflow more than covered the $140 million that left the Bitcoin ETFs between Oct. 8 and 10.
It followed a 7.3% Bitcoin rally to a local high of $63,360 on Oct. 11 before cooling off to $62,530 at current prices, CoinGecko data shows.
BlackRock continues to lead all spot Bitcoin ETF issuers with $21.7 billion in total net inflows, while Fidelity is $15 million away from surpassing the $10 billion milestone.
ARK 21Shares and Bitwise are the only other two spot Bitcoin ETF issuers with net inflows of $2 billion or more.
Total net inflows across all spot Bitcoin ETFs currently amount to $18.9 billion, which includes over $20 billion in outflows from the Grayscale Bitcoin Trust.
The committee will act as an advisory body designed to provide comprehensive oversight and guidance for the crypto industry.
It will be led by the FSC Vice Chairman, Soyoung Kim, and includes representatives from related government departments and nine private sector members.
Ethereum ETF flows continue to struggle
Seven of the nine US-based spot Ether ETH$2,446.19 ETFs recorded a “0” on Oct. 11 — marking the third time that has happened in the last five trading days.
The spot Ether ETFs combined for a $0.1 million net outflow on Oct. 11 with all inflows coming from the Fidelity Ethereum Fund, Farside Investors data shows.
The bitcoin ETFs saw a total of $969.76 million traded on Wednesday, with the group now securing $56.68 billion in reserves, accounting for 4.74% of BTC’s market cap. Over on the ethereum side, the nine spot ETFs had a quiet day, neither gaining nor losing. Data from sosovalue.xyz indicates $128.29 million was traded, with the nine funds holding $6.62 billion, representing 2.33% of ETH’s market capitalization.
The Grayscale Ethereum Trust bled $8.7 million.
The 21Shares, VanEck and Invesco-issued ETH ETFs and have now seen at least eight consecutive “0” days.
The low demand — relative to spot Bitcoin ETFs — could be attributed to the spot Ether ETFs launching at the wrong time, Bitstamp CEO for the Americas Bobby Zagotta recently told Cointelegraph.
“In this moment, people are waiting. I think they’re in the wait-and-see mode because of the uncertainty in the election, the regulatory stuff in the US, some of the sociopolitical stuff — everything is a little bit flat right now, relatively speaking.”
Others aren’t entirely convinced that Wall Street investors understand Ethereum’s highly technical roadmap — making it difficult for them to see where Ethereum’s value lies.
The performance of U.S. spot bitcoin and ethereum ETFs reflects the volatility and contrasting trends within the market.
As some funds capitalize on positive inflows, others struggle with significant losses, highlighting the ongoing balancing act investors face during the current market uncertainty. While cumulative net figures shift, the funds’ long-term positions and market influence will continue to evolve with fluctuating market conditions.
