Spot Bitcoin Exchange-Traded Funds (ETFs) in the United States have seen their largest inflow in over four months, indicating a surge of investor interest in Bitcoin as the cryptocurrency market shows signs of recovery.

Significant Inflows and Leading ETFs

Data from SoSoValue revealed that on October 14, net inflows across 12 Bitcoin ETFs totaled $555.86 million, more than double the $253.54 million recorded on the previous trading day. Among these, Farside’s FBTC led the pack with an impressive inflow of $239.25 million, marking its largest since June 4 and continuing its second consecutive day of inflows. Bitwise’s BITB fund also attracted strong inflows of $100.2 million, while BlackRock’s IBIT recorded $79.51 million in new investments after a brief pause in activity.

Other notable funds, including ARK Invest and 21Shares’ ARKB, registered inflows of $69.8 million. Grayscale’s GBTC saw its first inflow since September 27, with $37.77 million entering the fund, despite facing cumulative outflows of $20.15 billion since its inception.

Smaller funds such as HODL, EZBC, BTCO, the Grayscale Bitcoin Mini Trust, and Valkyrie’s BRRR collectively contributed an additional $29.34 million in inflows.

Bitcoin Price and Trading Volume Surge

As Bitcoin’s price reached a two-week high on October 14, climbing from $62,500 to an intraday peak of $66,500, trading volumes across Bitcoin ETFs also surged. Total volume across the 12 Bitcoin ETFs soared to $2.61 billion, reflecting renewed optimism in the market. By press time, Bitcoin was trading at $65,268, with ETF Store President Nate Geraci describing the day as a “monster day” for spot Bitcoin ETFs.

Over the past ten months, Bitcoin ETFs have attracted a staggering $19.36 billion in net inflows, with analysts forecasting further growth. Bloomberg senior ETF analyst Eric Balchunas compared Bitcoin ETFs to gold-based products, noting that Bitcoin funds have hit an all-time high five times since their January launch. In contrast, gold ETFs have seen only $1.4 billion in net inflows this year, despite gold hitting record highs 30 times in 2024.

Ethereum ETFs Struggle to Match Bitcoin’s Performance

While Bitcoin ETFs enjoyed significant inflows, Ethereum ETFs saw a comparatively muted response. Total net inflows for Ethereum-focused funds on October 14 amounted to just $17.07 million, with BlackRock’s ETHA fund leading the pack at $14.31 million.

Fidelity’s FETH, Invesco’s QETH, and 21Shares’ CETH recorded smaller inflows of $1.31 million, $1.05 million, and $393.69K respectively, while other spot Ethereum ETFs saw no new inflows.

Despite the modest inflows, Ethereum ETF trading volumes did increase, reaching $210.4 million on October 14, up from $143.54 million the day prior. Since their July launch, however, Ethereum ETFs have faced net outflows totaling $541.82 million. At the same time, Ethereum’s price showed signs of recovery, climbing 2.8% to $2,594 at press time.

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