Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

United States-based spot Bitcoin exchange-traded funds tallied $253.6 million in net inflows on Oct. 11 — breaking three consecutive trading days of outflows.
The Fidelity Wise Origin Bitcoin Fund led all with a net inflow of $117.1 million, while the ARK 21Shares Bitcoin ETF saw $97.6 million, Farside Investors <a data-ct-non-breakable="null" href="https://farside.co.uk/bitcoin-etf-flow-all-data/" rel="null" target="null" text="null" title="https://farside.co.uk/bitcoin-etf-flow-all-data/">data </a>shows.
The Bitwise Bitcoin ETF raked in $38.8 million — its largest in 11 trading days — while the Invesco Galaxy and VanEck Bitcoin ETFs saw inflows too.
BlackRock’s iShares Bitcoin Trust (IBIT) recorded a “0” flow on the day, as did the Bitcoin ETFs issued by Franklin Templeton, Valkyrie and WisdomTree.
It was the third-largest combined inflow day in which BlackRock’s IBIT failed to contribute.
Meanwhile, the Grayscale Bitcoin Trust bled another $22.1 million.
<figure>
 <img alt="Bitcoin ETFs end three-day skid with $254M inflow" src="https://s3.cointelegraph.com/uploads/2024-10/01927f03-ae03-79da-83e9-3d4ebaa28a13" title="">
 <figcaption style="text-align: center;">
 Flows for the US spot Bitcoin ETFs on Oct. 11 (Green). Source: Farside Investors
 </figcaption>
</figure>
The $253.6 million inflow more than covered the $140 million that left the Bitcoin ETFs between Oct. 8 and 10.
It followed a 7.3% Bitcoin rally to a local high of $63,360 on Oct. 11 before cooling off to $62,530 at current prices, CoinGecko<a data-ct-non-breakable="null" href="https://www.coingecko.com/en/coins/bitcoin" rel="null" target="null" text="null" title="https://www.coingecko.com/en/coins/bitcoin"> data</a> shows.
BlackRock continues to<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/blackrock-bitcoin-etf-investors-plummeting-bitcoin-outlook" rel="null" target="null" text="null" title="https://cointelegraph.com/news/blackrock-bitcoin-etf-investors-plummeting-bitcoin-outlook"> lead all spot Bitcoin ETF issuers</a> with $21.7 billion in total net inflows, while Fidelity is $15 million away from surpassing the $10 billion milestone.
ARK 21Shares and Bitwise are the only other two spot Bitcoin ETF issuers with net inflows of&nbsp; $2 billion or more.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-again-delays-decision-spot-ethereum-etf-options" rel="null" target="null" text="null" title="https://cointelegraph.com/news/sec-again-delays-decision-spot-ethereum-etf-options">SEC again delays decision on spot Ethereum ETF options</a>
Total net inflows across all spot Bitcoin ETFs currently amount to $18.9 billion, which includes<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/grayscale-outflows-impact-ethereum-etf-launch" rel="null" target="null" text="null" title="https://cointelegraph.com/news/grayscale-outflows-impact-ethereum-etf-launch"> over $20 billion in outflows</a> from the Grayscale Bitcoin Trust.
<h3 id="strong-ethereum-etf-flows-continue-to-struggle-strong">Ethereum ETF flows continue to struggle</h3>
Seven of the nine US-based spot Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="null" target="null" text="null" title="https://cointelegraph.com/ethereum-price">ETH</a>) ETFs recorded a “0” on Oct. 11 — marking the third time that has happened in the last five trading days.
The spot Ether ETFs combined for a $0.1 million net outflow on Oct. 11 with all inflows coming from the Fidelity Ethereum Fund, Farside Investors <a data-ct-non-breakable="null" href="https://farside.co.uk/ethereum-etf-flow-all-data/" rel="null" target="null" text="null" title="https://farside.co.uk/ethereum-etf-flow-all-data/">data</a> shows.
The Grayscale Ethereum Trust bled $8.7 million.
The 21Shares, VanEck and Invesco-issued ETH ETFs and have now seen at least eight consecutive “0” days.
The low demand — relative to spot Bitcoin ETFs — could be attributed to the spot Ether ETFs launching at <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ether-etfs-fared-better-with-bitcon-etf-launch-bitstamp" rel="null" target="null" text="null" title="https://cointelegraph.com/news/ether-etfs-fared-better-with-bitcon-etf-launch-bitstamp">the wrong time,</a> Bitstamp CEO for the Americas Bobby Zagotta recently told Cointelegraph.
<blockquote>
 “In this moment, people are waiting. I think they’re in the wait-and-see mode because of the uncertainty in the election, the regulatory stuff in the US, some of the sociopolitical stuff — everything is a little bit flat right now, relatively speaking.”
</blockquote>
Others aren’t entirely convinced that <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ethereum-etfs-3-pitches-that-could-convince-wall-street-investors" rel="null" target="null" text="null" title="https://cointelegraph.com/news/ethereum-etfs-3-pitches-that-could-convince-wall-street-investors">Wall Street investors understand</a> Ethereum’s highly technical roadmap — making it difficult for them to see where Ethereum’s value lies.
Magazine:<a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-etf-coinbase-honeypot-hackers-government-trezor-ceo/" rel="null" target="null" text="null" title="https://cointelegraph.com/magazine/bitcoin-etf-coinbase-honeypot-hackers-government-trezor-ceo/"> Bitcoin ETFs make Coinbase a ‘honeypot’ for hackers and governments: Trezor CEO</a>

Bitcoin ETFs end three-day skid with $254M inflow

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