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U.S. Spot Bitcoin ETFs Continue to See Strong Inflows, While Ether ETFs Rebound
Spot Bitcoin ETFs in the U.S. have recorded their fourth consecutive day of net inflows, totaling $458.54 million on October 16, bringing the cumulative inflows for the period to over $1.63 billion. BlackRock’s IBIT, the largest Bitcoin ETF by assets under management, has led the way, posting $393.4 million in inflows on October 16—its largest single-day gain since July 22. Since its launch, IBIT has accumulated a total of $22.46 billion in net inflows.
Other significant contributors include Fidelity’s FBTC ($14.81 million), Bitwise’s BITB ($12.93 million), and Franklin Templeton’s EZBC ($11.79 million), with Ark 21Shares’ ARKB adding $11.51 million. Meanwhile, Grayscale’s GBTC saw no activity, continuing its trend of $20.14 billion in cumulative net outflows since inception.
As Bitcoin continues to attract large capital inflows, its price has remained relatively stable, trading at $67,300 as of October 17 after briefly surpassing $68,250 the previous day.
In a broader development, Grayscale is preparing to launch the first crypto ETF that will hold multiple assets including Bitcoin, Ether, Solana, and XRP. Analysts, like Bloomberg’s Eric Balchunas, believe there’s a chance of approval despite concerns over the smaller, less liquid assets within the fund, which could position Grayscale ahead in the race for a diversified crypto ETF.
Meanwhile, spot Ether ETFs have shown signs of recovery, reversing previous outflows with $24.22 million in net inflows on October 16. BlackRock’s ETHA led the rebound with $11.89 million in inflows, while Fidelity’s FETH and VanEck’s ETHV attracted $8.5 million and $3.83 million, respectively. The total net outflows for Ether ETFs currently stand at $530.3 million.
At the time of publication, Ethereum was trading at $2,628, showing modest growth in response to the positive movement in Ether ETFs.
