Spot Bitcoin ETFs in the U.S. Achieve Fourth Consecutive Day of Net Inflows

Spot Bitcoin ETFs in the U.S. marked their fourth straight day of net inflows, while spot Ether ETFs reversed course, moving back into net positive flows.

Bitcoin ETFs See Consistent Inflows

Data from SoSoValue shows that the 12 spot Bitcoin ETFs recorded net inflows of $458.54 million on Oct. 16, marking the fourth consecutive day of positive inflows. During this period, the funds have accumulated more than $1.63 billion.

BlackRock’s IBIT, the largest Bitcoin ETF by assets under management, continues to lead, posting the highest net inflow for the second straight day. On Oct. 16, IBIT recorded an impressive $393.4 million inflows, its largest single-day gain since July 22. Since its launch, the fund has amassed $22.46 billion in cumulative net inflows.

Other major players also contributed to the surge in inflows. Fidelity’s FBTC attracted $14.81 million, Bitwise’s BITB secured $12.93 million, Franklin Templeton’s EZBC saw $11.79 million, and Ark 21Shares’ ARKB recorded $11.51 million in inflows.

Invesco Galaxy’s BTCO, VanEck’s HODL, and Valkyrie’s BRRR brought in $6.43 million, $5.75 million, and $1.92 million, respectively.

The remaining spot Bitcoin ETFs, including Grayscale’s GBTC, saw no activity. Notably, since its inception, Grayscale’s GBTC has experienced a cumulative net outflow of $20.14 billion.

Grayscale’s New ETF Plans

The crypto asset manager is now preparing to take a bold step by attempting to launch the first ETF that holds multiple cryptocurrencies, including Bitcoin, Ether, Solana, and XRP. According to Bloomberg analyst Eric Balchunas, the company aims to convert its Grayscale Digital Large Cap Fund (GDLC) into this mixed crypto ETF. Given that Bitcoin and Ether comprise over 90% of the holdings, he believes there is a chance of approval despite concerns over the smaller portions of illiquid assets.

If successful, Grayscale could position itself ahead of competitors in the race for a diversified crypto ETF.

Meanwhile, the total net inflows into U.S. spot Bitcoin ETFs have now surpassed the $20 billion mark for the first time since their launch in January, a significant milestone for the burgeoning market.

Bitcoin Market Overview

While spot Bitcoin ETFs continue to attract significant capital, Bitcoin itself has been moving sideways in the market. As of Oct. 17, BTC was trading at approximately $67,300 after briefly surpassing $68,250 the previous day, its highest point in two months. Bitcoin’s market capitalization remains strong at $1.33 trillion, with a daily trading volume exceeding $36 billion.

Ether ETFs Rebound After Negative Flows

Alongside the resurgence in Bitcoin ETFs, spot Ether ETFs also show signs of recovery. After recording net outflows the previous day, the nine U.S.-based spot Ether ETFs reversed course on Oct. 16, logging net inflows of $24.22 million.

BlackRock’s ETHA led the way with $11.89 million in inflows, while Fidelity’s FETH and VanEck’s ETHV attracted $8.5 million and $3.83 million, respectively. The remaining ETH ETFs saw no trading activity on the day.

The spot Ether ETFs have experienced a cumulative total net outflow of $530.3 million. At the time of publication, Ethereum was exchanging hands at $2,628.

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