{"id":51826,"date":"2024-10-16T01:22:00","date_gmt":"2024-10-16T01:22:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/us-spot-bitcoin-etfs-556m-inflows-biggest-day-since-june"},"modified":"2024-10-16T04:03:13","modified_gmt":"2024-10-16T04:03:13","slug":"us-spot-bitcoin-etfs-see-556m-inflows-in-biggest-day-since-june","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51826","title":{"rendered":"US spot Bitcoin ETFs see $556M inflows in biggest day since June"},"content":{"rendered":"

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.<\/p>\n

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.<\/p>\n

ETF Store President Nate Geraci called it a \u201cmonster day\u201d for spot BTC ETFs, adding that they were now approaching $20 billion in net inflows over the past 10 months.<\/p>\n

\u201cSimply ridiculous and blows away every pre-launch demand estimate,\u201d he said in an Oct. 15 X post. \u201cThis is NOT \u2018degen retail,\u2019 it\u2019s advisers and institutional investors continuing to slowly adopt.\u201d<\/p>\n

The Fidelity Wise Bitcoin Origin Fund (FBTC) was the leader of the pack with an inflow of $239.3 million \u2014 its highest since June 4.<\/p>\n

\"Bitcoin
Daily Bitcoin ETF inflows (green) on Oct. 14 were the highest since June. Source: CoinGlass<\/em><\/p>\n<\/figcaption><\/figure>\n

The Bitwise Bitcoin ETF (BITB) had a little over $100 million, while BlackRock\u2019s iShares Bitcoin Trust (IBIT) saw inflows of $79.6 million.<\/p>\n

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 \u2014 its highest since early May.<\/p>\n

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.<\/p>\n

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.<\/p>\n

\"Bitcoin
Source: <\/em>Eric Balchunas<\/em><\/p>\n<\/figcaption><\/figure>\n

Related: <\/strong><\/em>Bitcoin ETFs end three-day skid with $254M inflow<\/strong><\/em><\/p>\n

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.<\/p>\n

The BlackRock iShares Ethereum Trust (ETHA) had an inflow of $14.3 million, bringing the total to $17 million.<\/p>\n

Magazine: <\/strong><\/em>Bitcoin ETFs make Coinbase a \u2018honeypot\u2019 for hackers and governments: Trezor CEO<\/strong><\/em><\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

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\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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 … US spot Bitcoin ETFs see $556M inflows in biggest day since June<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":51830,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3544,3812,5652,10,159,97],"class_list":["post-51826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"\nUS spot Bitcoin ETFs see $556M inflows in biggest day since June - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=51826\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US spot Bitcoin ETFs see $556M inflows in biggest day since June - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"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. 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