Breaking the 20 Billion Milestone Spot Bitcoin ETFs Attract Over 21 Billion Inflows Continuously for Five Days

Spot Bitcoin exchange-traded funds (ETFs) continued to attract significant inflows for the fifth consecutive day on October 17, with BlackRock’s IBIT ETF leading the way for the third straight session.

The 12 spot Bitcoin ETFs collectively received an impressive $470.48 million in inflows on that day, bringing the total cumulative inflows over the past five trading days to over $2.1 billion.

According to data from SoSoValue, BlackRock’s IBIT ETF dominated the inflow surge, attracting $309 million on October 17. This marked IBIT’s third consecutive day in the lead.

While BlackRock’s IBIT ETF took the top spot, 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 with $11.96 million in inflows, and Franklin Templeton’s EZBC with $3.88 million. However, seven other spot Bitcoin ETFs had no recorded inflows on October 17.

With these continued inflows, the total net inflows into spot Bitcoin ETFs surpassed $20 billion, reaching $20.66 billion as of October 17.

Bloomberg ETF analyst Eric Balchunas highlighted the significance of this milestone in an October 17 post, stating that crossing the $20 billion mark is one of the most challenging and crucial metrics in the ETF world. He compared it to gold ETFs, which took around five years to reach the same level.

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

The surpassing of $20 billion in cumulative inflows for spot Bitcoin ETFs coincided with Bitcoin’s price rising above the key $65,000 level. This milestone has been eagerly anticipated by investors since the price dropped below it on September 30.

At the time of writing, Bitcoin was trading at $67,839, experiencing a 0.7% increase over the past 24 hours. Its intraday price ranged between $66,738 and $68,159, indicating continued bullish momentum in the market.

Meanwhile, spot Ethereum ETFs also saw modest gains in inflows. On October 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 net outflow of $481.9 million so far, reflecting the asset’s more volatile nature in the current market environment. At the time of writing, Ethereum was trading at $2,619.