Mr Viral
BlackRock’s spot Bitcoin ETF, IBIT, has continued its lead in the ETF market with significant inflows. The fund has accumulated over $1 billion in assets this week.
Impressively, on Thursday, October 17, IBIT amassed net inflows of $309 million, bringing the net US Bitcoin ETFs inflow to over $470 million. Similarly, Ethereum-based ETFs followed the positive trend to accumulating over $48 million in inflows on Thursday.
These ETFs reflect the trend in the broader crypto market, which maintains a bullish pattern, with Bitcoin climbing to the $67,000 region.
BlackRock Bitcoin ETF Gets Over $1 Billion this Week
According to data from SoSoValue, the largest spot Bitcoin ETF, BlackRock’s IBIT, recorded net inflows of $309 million on October 17.
Following the latest positive flows, IBIT has posted over $1.07 billion in net inflows this week. This value marks its largest weekly positive flow since mid-March.
BlackRock’s Bitcoin ETF boasts over $22.76 billion in net inflows since its launch.
Four other ETFs recorded positive flows on Thursday, including IBIT. Ark Invest and 21Shares’ ARKB followed IBIT with more than $100 million in net inflows.
Surprisingly, Grayscale’s GBTC saw about $45.7 million in net inflows on Thursday after zero net flows the previous day. Fidelity’s FBTC and Franklin Templeton’s EZBC closed the trading day with net inflows of $11.7 million and $3.9 million, respectively. The remaining six ETFs posted zero net flows for the day.
Moreover, on Thursday, the ETFs’ daily trading volume slightly dropped to $1.47 billion compared to $1.58 billion the previous day.
Cumulatively, the US spot Bitcoin ETFs amassed $470.48 million on Thursday, marking their fourth-day positive flow streak since October 11. The funds have seen net inflows of over $1.85 billion this week and now boast $20.66 billion in net inflows since their launch.
On Wednesday, October 16, the cumulative inflows of BTC ETFs surpassed the $20 billion mark. Eric Balchunas, Bloomberg’s senior ETF analyst, acknowledged that gold ETFs took five years to achieve the same milestone.
US Ethereum-Based ETFs Record Positive Flows
The positive trend also extended to the US spot Ether ETFs, which cumulatively posted net inflows of $48.41 million on Thursday. This value marked the funds’ largest positive flows since September 27.
Fidelity’s FETH led the positive flow, with $31.12 million in net inflows. BlackRock’s ETHA posted net inflows of $23.56 million. Grayscale’s mini trust (ETH) raked in $5.1 million, while Ark Invest and 21Shares’ CETH posted $2.3 million in net inflows.
Bitwise’s ETHW and Franklin Templeton’s QETH recorded net inflows of $1.5 million and $500,000, respectively. Meanwhile, Grayscale’s ETHE was the only fund with negative flows of $15.74 million.
All the ETH ETFs saw a daily trade volume of $126.7 million on Thursday. The funds reflect net outflows of $481.90 million since their launch. The ETF markets’ positive trend comes amid the bullish indications in the broader crypto market.
Bitcoin has reclaimed its value within the $67,000 threshold. Ether’s price hovers around $2,627, showing a 0.89% surge over the past day.
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