Key Points
Bitcoin ETFs in the U.S. have experienced a significant surge in inflows.
This mirrors the increased investor interest in Bitcoin as the cryptocurrency market recovers.
Data Highlights
According to data from SoSoValue, net inflows across 12 Bitcoin ETFs reached $555.86 million on Oct. 14.
This is more than double the $253.54 million recorded on the previous trading day.
Among these ETFs, Farside’s FBTC led with an inflow of $239.25 million.
This marks its largest since June 4 and is its second consecutive inflow day.
Bitwise’s BITB fund also had strong inflows of $100.2 million.
BlackRock’s IBIT registered $79.51 million in new investments after a pause in activity.
Other funds, such as ARK Invest and 21Shares’ ARKB, saw inflows of $69.8 million.
Grayscale’s GBTC recorded its first inflow since Sept. 27, with $37.77 million entering the fund.
However, Grayscale’s GBTC has faced challenges, with cumulative outflows of $20.15 billion since its launch, despite recent positive momentum.
Smaller funds like HODL, EZBC, BTCO, the Grayscale Bitcoin Mini Trust, and Valkyrie’s BRRR collectively contributed an additional $29.34 million in inflows.
As Bitcoin’s (BTC) price reached a two-week high on Oct. 14, trading volumes across Bitcoin ETFs also surged.
The total volume across the 12 Bitcoin ETFs soared to $2.61 billion, reflecting renewed market optimism.
By press time, Bitcoin was trading at $65,268.
ETF Store President Nate Geraci described the day as a “monster day” for spot Bitcoin ETFs.
Over the past ten months, Bitcoin ETFs have attracted $19.36 billion in net inflows.
Analysts are predicting further growth.
Bloomberg senior ETF analyst Eric Balchunas compared Bitcoin ETFs to gold-based products in an Oct. 14 post.
He noted 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.
While Bitcoin ETFs enjoyed a significant inflow day, Ethereum ETFs saw a comparatively muted response.
Total net inflows for Ethereum-focused funds on Oct. 14 were just $17.07 million, with BlackRock’s ETHA fund leading at $14.31 million.
Fidelity’s FETH, Invesco’s QETH, and 21Shares’ CETH recorded smaller inflows.
Other spot Ethereum ETFs saw no new inflows.
Despite the modest inflows, Ethereum ETF trading volumes did increase, reaching $210.4 million on Oct. 14.
Since their July launch, however, Ethereum ETFs have faced net outflows totaling $541.82 million.
At the same time, Ethereum’s (ETH) price showed signs of recovery, climbing 2.8% to $2,594 at press time.