United States spot Bitcoin exchange-traded funds (ETFs) saw their biggest one-day inflow in over four months, with more than half a billion dollars in inflows.
The 11 ETFs saw aggregate net inflows of $555.9 million on Oct. 14, their largest daily net inflow since early June, according to data from Farside Investors. The big day came as Bitcoin (BTC) hit a two-week high of $66,500 in late trading.
ETF Store President Nate Geraci called it a “monster day” for spot BTC ETFs, adding that they were now approaching $20 billion in net inflows over the past 10 months.
“Simply ridiculous and blows away every pre-launch demand estimate,” he said in an Oct. 15 X post. “This is NOT ‘degen retail,’ it’s advisers and institutional investors continuing to slowly adopt.”
The Fidelity Wise Bitcoin Origin Fund (FBTC) was the leader of the pack with an inflow of $239.3 million — its highest since June 4.
The Bitwise Bitcoin ETF (BITB) had a little over $100 million, while BlackRock’s iShares Bitcoin Trust (IBIT) saw inflows of $79.6 million.
Ark 21Shares Bitcoin ETF (ARKB) had inflows of just under $70 million and the Grayscale Bitcoin Trust (GBTC) saw its first inflow for October at $37.8 million — its highest since early May.
In an Oct. 14 X post, Bloomberg senior ETF analyst Eric Balchunas compared Bitcoin ETFs to gold-based products, noting that since the January launch of the BTC funds, the asset has hit an all-time high five times.
Meanwhile, gold has hit record highs 30 times this year, but gold ETFs have only seen $1.4 billion in net inflows compared with more than $19 billion for Bitcoin ETFs, Balchunas said.
Related: Bitcoin ETFs end three-day skid with $254M inflow
Still, Ethereum funds were not enjoying the same momentum, with zero net flows for Bitwise, VanEck, Franklin and Grayscale and minor flows for Fidelity and Invesco.
The BlackRock iShares Ethereum Trust (ETHA) had an inflow of $14.3 million, bringing the total to $17 million.
Magazine: Bitcoin ETFs make Coinbase a ‘honeypot’ for hackers and governments: Trezor CEO
Check other news for today and Please stand by..
*********************************
If one of the paying programs on our Monitor appeals to you, please support EmilyNews by registering for it on our website. Thanks very very much!
EN web Support Chat | Hyips and Crypto questions – HyipChatEN
Telegram Chat for Crypto and Hyip reports: @HyipChatEN
*********************************
Be the first to get most important HYIP news everyday!
Simply Follow EN Facebook, EN Telegram, EN Twitter
or Subscribe to EN Feedburner and submit your email address!
If you like this article and want to support EN – please share it by using at least few of social media buttons below. Thanks and See you tomorrow!
