Spot Bitcoin ETFs See $2.11 Billion in Inflows Over Five Days Amid Robust Interest

Spot Bitcoin ETFs have recorded a remarkable $2.11 billion in net inflows over the last five trading days, highlighting the sustained interest in this asset class.

Data from SoSo Value reveals that October 17 alone accounted for a substantial daily net inflow of $470.48 million, reflecting investors' confidence and enthusiasm.

This recent surge has pushed the cumulative inflows to a historic high of $20.66 billion.

BlackRock Dominates Inflows

Leading the charge is BlackRock’s Bitcoin ETF (IBIT), which trades on NASDAQ and attracted an impressive net inflow of $309 million on October 17. This influx significantly contributed to the overall daily inflow of Bitcoin ETFs.

With total net assets amounting to $25.79 billion, BlackRock’s ETF continues to be a dominant force in the Bitcoin ETF market.

In contrast, Grayscale’s Bitcoin Trust (GBTC) reported a modest net inflow of $45.7 million on the same day, despite experiencing cumulative outflows of $20.10 billion to date.

Fidelity’s Bitcoin ETF (FBTC), listed on CBOE, also reported net inflows of $11.69 million, bringing its total net assets to $10.29 billion.

On the Ethereum side, ETFs recorded a daily net inflow of $48.41 million, signaling a resurgence in investor interest. BlackRock’s Ethereum ETF (ETHA) stood out with a net inflow of $23.56 million, while Grayscale’s Ethereum Trust (ETHE) observed a smaller net inflow of $5.13 million, bringing its total net assets to $1.02 billion.

Fidelity’s Ethereum ETF (FETH) achieved notable success, attracting $31.12 million in net inflows, contributing to its cumulative total of $498.02 million.

Despite these gains, cumulative net inflows across Ethereum ETFs remain negative, standing at -$481.9 million. Grayscale’s ETHE also experienced a net outflow of $15.74 million on October 17, although total net assets for Ethereum ETFs reached $7.18 billion, representing 2.30% of Ethereum’s total market capitalization.

Strong Interest from U.S. Investors

A recent survey by financial services firm Charles Schwab indicates that nearly half of U.S. investors are considering investments in cryptocurrency ETFs. The survey found that 45% of respondents plan to invest in crypto through ETFs in the next year, up from 38% the previous year.

This increasing interest in cryptocurrency has surpassed demand for bonds and other alternative assets, with only U.S. equities ranking higher; 55% of participants indicated plans to invest in stocks.

Millennial investors demonstrate even greater enthusiasm for crypto, with 62% intending to allocate funds to this sector, compared to 48% for U.S. stocks, 47% for bonds, and 46% for real assets like commodities.

Conversely, baby boomer ETF investors show markedly less interest in digital assets, with only 15% planning to invest in them.

"Pretty stunning," commented Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, regarding the elevated interest in cryptocurrency reflected in the survey.