Bitcoin ETFs Surpass $20 Billion in Inflows, With $1.8 Billion Added This Week

The eleven spot Bitcoin ETFs in the United States collectively surpassed $20 billion in inflows this week. Thursday’s large inflow added to that total figure, which stood at $20.73 billion, according to Farside Investors.

Eric Balchunas, senior ETF analyst at Bloomberg, said that’s the most important number because it’s “the most difficult metric to develop in the ETF world.” As a reminder, it took gold ETFs about five years to reach the same figure, he added.

Bitcoin ETFs crossed $20 billion in total net flows for the first time (the hardest number to grow in the ETF world) after a huge $1.5 billion week. As a reminder, it took gold ETFs about 5 years to reach the same figure. Total assets now stand at $65 billion, which is also a record. pic.twitter.com/edldEimfqd

– Eric Balchunas (@EricBalchunas) October 17, 2024

Bitcoin ETF Feed

October 17 saw an aggregate net inflow of $470.5 million for the eleven funds, marking the fifth consecutive trading day in the green. That means they’ve racked up a whopping $1.85 billion this week alone, not counting Friday’s flows.

ETF Store President Nate Geraci observed that more than $2 billion has now flowed into spot Bitcoin ETFs over the past five trading days.

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

US spot Bitcoin ETFs have now accumulated more than 950,000 BTC, almost as much as the creator, Satoshi Nakamoto, stashed them in various wallets.

BlackRock’s iShares Bitcoin Trust (IBIT) led the pack, with an inflow of $309 million. This brings the product’s total revenue to $22.7 billion.

The Ark 21Shares fund (ARKB) was the second highest of the day, with an inflow of $100.2 million. Even Grayscale’s higher-fee GBTC fund saw an inflow of $45.7 million.

However, its net flows are negative $20 billion, bringing the total down to about half of what it could have been.

ETF Buy 7032 #Bitcoin Today

This represents 31,600 BTC last week.

More than 2 billion dollars in flows

The wave is rising pic.twitter.com/vG5a08kqh5

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

ETH ETFs are back

Spot Ethereum ETFs have not had the same appeal, however, October 17 saw the largest inflow since late September for all nine funds.

A total net inflow of $48.4 million was reported by Farside Investors. Fidelity’s Ethereum ETF (FETH) led the pack with an inflow of $31.1 million, bringing its total to nearly $500 million. BlackRock’s iShares Ethereum Trust (ETHA) came in second with an inflow of $23.6 million, bringing the total inflow to $1.26 billion.

Grayscale’s Ethereum Trust (ETHE) continues to bleed with a $15.7 million outflow and a total loss of $3 billion since its conversion to a spot ETF. The proceeds drive the rest, resulting in a total flow for all Ethereum funds representing an outflow of $469 million.