Polygon Bridged WBTC (Polygon POS) (wbtc) 
On Oct. 31, BlackRockās spot Bitcoin ETF, IBIT, recorded a notable $318.8 million in net inflows despite a 4% dip in Bitcoinās price, which dropped to around $68,800.
According to data from Farside Investors, the latest capital influx followed IBITās record-breaking performance just a day earlier on Oct. 30, when the fund attracted $872 million, eclipsing its previous peak of $849 million set in March. The fundās weekly inflows have now surpassed $2.1 billion.
Despite the significant net inflows into BlackRockās IBIT, the 12 spot Bitcoin ETFs collectively recorded only $32.3 million in net inflows on Oct. 31āa marked decrease from the $893.3 million seen the previous day, which was the second-largest single-day inflow since the ETFsā launch.
Amid this broad pullback in Bitcoin ETFs, Valkyrieās BRRR was the only other fund to see positive flows on Thursday, gaining $1.9 million. The broader market, however, was marked by significant outflows from other prominent funds.
Fidelityās FBTC ended a two-week streak of positive inflows, losing over $75.2 million. Similarly, ARK 21Sharesā ARKB, Bitwiseās BITB, VanEckās HODL, and Grayscaleās GBTC collectively experienced outflows amounting to $213.2 million.
BlackRockās IBIT Rises Above Traditional ETFs
The standout performance of BlackRock‘s IBIT places it as a significant contender not only within the crypto space but also in the wider ETF industry.
According to Bloomberg analyst Eric Balchunas, IBIT outperformed major ETFs like VOO, IVV, and AGG in the past week, attracting more investor capital than any other ETF. Launched less than ten months ago, IBIT has swiftly accumulated almost $30 billion in assets, with roughly half of this amount gained in the last month alone.
“$IBIT took in more cash than any other ETF in the world over the past week. This is out of 13,227 ETFs, which includes $VOO, $IVV, $AGG etc. It’s so hard to beat those veteran Cash Vacuum Cleaners, even for a week, especially for an infant ETF (3mo-1yr old)”
Collectively, U.S.-based spot Bitcoin ETFs now hold over 1 million Bitcoin, edging closer to the estimated 1.1 million BTC believed to be held in the wallet of Bitcoinās pseudonymous creator, Satoshi Nakamoto.
The inflows into IBIT and BRRR came amidst a broader decline in Bitcoin‘s market performance, as the digital assetās price fell 4.6% on Oct. 31, from an intraday high of $72,859 to $69,505. The price drop correlated with widespread liquidations in the crypto market, amounting to $246.38 million in long positions, with Bitcoin accounting for $78.45 million of the liquidations.
Spot Ether ETFs Log $13M in Inflows
While Bitcoin ETFs exhibited mixed results, Ethereum ETFs recorded modest yet positive inflows on Oct. 31. The nine spot Ethereum ETFs collectively reported $13 million in net inflows, driven entirely by BlackRockās ETHA, which saw $49.6 million in new investments.
Grayscaleās ETHE, by contrast, posted outflows of $36.6 million, while the remaining Ethereum ETFs remained neutral on the day.
At the time of publication, Ethereumās price mirrored Bitcoinās downward trend, declining by 5.3% to $2,507.
#CryptoExchange #Bitcoin
