Bitcoin ETFs Surpass $20B in Inflows, Adding $1.8B This Week

The total inflow for the eleven spot Bitcoin ETFs in the United States has exceeded $20 billion this week. The significant inflow on Thursday contributed to this total, which now stands at $20.73 billion, as reported by Farside Investors.

According to Bloomberg’s senior ETF analyst Eric Balchunas, this figure is crucial because it represents the “most challenging metric to increase in the ETF space.” For perspective, gold ETFs required roughly five years to reach this level, he noted.

Bitcoin ETFs have crossed $20b in total net flows (the most imp number, most difficult metric to grow in ETF world) for first time after huge week of $1.5b. For context, it took gold ETFs about 5yrs to reach same number. Total assets now $65b, also a high water mark. pic.twitter.com/edldEimfqd

— Eric Balchunas (@EricBalchunas) October 17, 2024

Bitcoin ETF Flows

On October 17, the eleven funds recorded a cumulative net inflow of $470.5 million, marking the fifth consecutive day of positive trading. This surge means that the total inflow this week alone has reached an impressive $1.85 billion, not including Friday’s figures.

ETF Store President Nate Geraci pointed out that over $2 billion has flowed into spot Bitcoin ETFs in the past five trading days.

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

US spot Bitcoin ETFs have now accumulated more than 950,000 BTC, a quantity nearly equivalent to what the creator, Satoshi Nakamoto, holds across various wallets.

Leading the pack was BlackRock’s iShares Bitcoin Trust (IBIT) with an inflow of $309 million, bringing its total inflow to $22.7 billion.

The Ark 21Shares (ARKB) fund followed closely with an inflow of $100.2 million, while Grayscale’s higher-fee GBTC fund observed an inflow of $45.7 million.

However, GBTC’s net flows are down by $20 billion, resulting in a total that is around half of what it could have been.

ETFs Buy 7032 #Bitcoin Today

That’s 31,600 BTC over the last week.

Over $2 Billion in flows

The wave is building pic.twitter.com/vG5a08kqh5

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

ETH ETFs Are Back

While spot Ethereum ETFs have struggled to attract interest, October 17 saw the largest inflow for the nine funds since late September.

A total net inflow of $48.4 million was reported by Farside Investors. Fidelity’s Ethereum ETF (FETH) led with an inflow of $31.1 million, now approaching $500 million total. Following closely was BlackRock’s iShares Ethereum Trust (ETHA) with an inflow of $23.6 million, bringing its total to $1.26 billion.

Conversely, Grayscale’s Ethereum Trust (ETHE) continues to experience outflows, losing $15.7 million, and totaling a decline of $3 billion since its transition to a spot ETF. This downturn has adversely affected the overall flow for all Ethereum funds, which now totals an outflow of $469 million.