Spot Bitcoin ETFs record over $2.1b inflows in five-day streak, breaking $20b mark

Spot Bitcoin exchange-traded funds recorded their fifth consecutive day of inflows on Oct. 17 led by BlackRock’s IBIT for the third straight session.

The combined inflows of the 12 spot Bitcoin ETFs reached an impressive $470.48 million on the day, marking a cumulative total of over $2.1 billion in inflows over the last five trading days.

According to data from SoSoValue, BlackRock’s IBIT ETF led the inflow surge, attracting $309 million on Oct. 17. This performance marked IBIT’s leadership for the third consecutive day.

While BlackRock’s IBIT ETF led the pack, other major players also contributed to the ongoing inflow streak. ARK Invest and 21Shares’ ARKB ETF saw $100.2 million in inflows, while Grayscale’s GBTC ETF attracted $45.7 million.

Additional support came from Fidelity’s FBTC, which recorded $11.96 million in inflows, and Franklin Templeton’s EZBC, with $3.88 million. However, seven other spot Bitcoin ETFs remained neutral with no inflows recorded on Oct. 17.

With these continued inflows, the total net inflows into the spot Bitcoin ETFs crossed the $20 billion mark, standing at $20.66 billion as of Oct. 17.

In an Oct. 17 X post, Bloomberg ETF analyst Eric Balchunas emphasized the importance of this achievement, noting that crossing the $20 billion threshold is one of the most challenging and critical metrics in the ETF world. He compared this milestone to gold ETFs, which took around five years to reach the same level.

ETF Store president Nate Geraci echoed these sentiments, describing the current inflow trend as a “vacuuming up” of capital.

Spot Bitcoin ETFs surpassing $20 billion in cumulative inflows coincides with Bitcoin’s price rising above the key $65,000 level, a milestone that investors have been eagerly awaiting since the price fell below it on Sept. 30.

At press time, Bitcoin (BTC) was trading at $67,839, having experienced a 0.7% increase over the past 24 hours. Its intraday price ranged between $66,738 and $68,159, continuing the bullish momentum in the market.

Spot Ethereum ETFs see modest gains

Meanwhile, Ethereum-focused ETFs have also witnessed positive inflows. On Oct. 17, the nine available spot Ethereum ETFs recorded a combined $48.41 million in inflows, building on the previous day’s $24.22 million.

Fidelity’s FETH and BlackRock’s ETHA ETFs led the charge, attracting $31.12 million and $23.56 million, respectively.

Other contributors included Grayscale’s Ethereum Mini Trust, 21Shares’ CETH, Biwise’s ETHW, and Invesco’s QETH, with inflows of $5.13 million, $2.33 million, $1.49 million, and $518.64K, respectively.

Despite these recent gains, spot Ethereum ETFs have experienced a cumulative total net outflow of $481.9 million to date, reflecting the more volatile nature of the asset in the current market environment. At the time of writing, Ethereum (ETH) was trading at $2,619.