Bitcoin ETF Inflows Top $20 Billion, With Another $1.8 Billion This Week

Eleven spot Bitcoin ETFs in the United States have collectively surpassed $20 billion in inflows this week. Thursday’s large inflows added to the total figure, which was $20.73 billion, according to Farside Investors.

Bloomberg senior ETF analyst Eric Balchunas said that this is the most important number because it is “the most difficult metric to develop in the ETF world.” For context, it took gold ETFs about five years to reach the same amount, he added.

Bitcoin ETFs have surpassed $20 billion in total net flows (the most important figure, the most difficult metric to develop in the ETF world) for the first time after a big week of $1.5 billion. For context, it took gold ETFs about 5 years to reach the same figure. Total assets are now $65 billion, also a high value. pic.twitter.com/edldEimfqd

— Eric Balchunas (@EricBalchunas) October 17, 2024

Bitcoin ETF Flow

October 17 saw aggregate net inflows of $470.5 million for eleven funds, marking the fifth consecutive trading day in the green. This means that they have raised $1.85 billion this week alone, not including Friday’s cash flow.

ETF Shop President Nate Geraci observed that more than $2 billion has now flowed into spot Bitcoin ETFs over the last five trading days.

“That’s what physical gold ETFs have taken over the last year,” he exclaimed.

The US spot Bitcoin ETF has now accumulated more than 950,000 BTC, almost the same amount as its creator, Satoshi Nakamoto, holds it in various wallets.

BlackRock’s iShares Bitcoin Trust (IBIT) was the leader, with inflows of $309 million. This brings the total flow figure for the product to $22.7 billion.

The Ark 21Shares Fund (ARKB) was the second highest on the day, with inflows of $100.2 million. Even Grayscale’s higher-cost GBTC fund generated $45.7 million in inflows.

However, net flows amounted to negative $20 billion, bringing total flows down to about half of what they would have been.

ETF Buy 7032 #Bitcoin Today

That’s 31,600 BTC over the past week.

Inflows were over $2 Billion

The wave is growing pic.twitter.com/vG5a08kqh5

—Thomas | heyapollo.com (@thomas_fahrer) October 18, 2024

ETH ETFs Are Back

Ethereum Spot ETFs don’t have the same appeal, however, on October 17 saw the largest inflows since late September for the nine funds.

Total net inflows of $48.4 million were reported by Farside Investors. Fidelity’s Ethereum ETF (FETH) led the way with inflows of $31.1 million, bringing the total to nearly $500 million. BlackRock’s iShares Ethereum Trust (ETHA) came in second with $23.6 million in inflows, bringing total inflows to $1.26 billion.

Grayscale’s Ethereum Trust (ETHE) continues to bleed with outflows of $15.7 million and total losses of $3 billion since converting to a spot ETF. This product dragged in the rest bringing the total flow figure for all Ethereum funds to an outflow of $469 million.