Rally

Spike

Bitcoin

Million

Bitcoin spot exchange-traded funds (ETFs) attracted an impressive $555.9 million in net inflows on October 14. This marks the largest single-day inflow for Bitcoin ETFs in over four months, pushing Bitcoin to a two-week high of $66,500. According to Farside Investors’ <a href="https://farside.co.uk/btc/" rel="noopener noreferrer nofollow">data</a>, the surge has brought the total inflow for Bitcoin ETFs close to $20 billion over the last 10 months, surpassing all pre-launch projections.
Nate Geraci, president of the ETF Store, <a href="https://x.com/NateGeraci/status/1846015202564747387" rel="noopener noreferrer nofollow">highlighted</a> the influx as a “monster day,” emphasizing that institutional investors and financial advisers are driving the trend, rather than retail traders. He pointed out in an October 15 post on X (formerly Twitter) that institutional adoption is steadily rising.
<h2 id="span-style-font-weight-400-fidelity-leads-the-inflow-spike-span">Fidelity Leads the Inflow Spike</h2>
Among the 11 Bitcoin ETFs, <a href="https://thecoinrise.com/fidelity-leads-spot-bitcoin-etfs-187m-net-inflow/" rel="noopener noreferrer nofollow">Fidelity’s Wise Bitcoin Origin Fund (FBTC) took the lead</a> with an inflow of $239.3 million, its largest since June 4. Other major players saw significant inflows as well: Bitwise’s Bitcoin ETF (BITB) added over $100 million, while BlackRock’s iShares Bitcoin Trust (IBIT) posted inflows of $79.6 million.
Ark 21Shares Bitcoin ETF (ARKB) contributed nearly $70 million, and Grayscale’s Bitcoin Trust (GBTC) saw its first October inflow, totaling $37.8 million—the highest since May.
Senior Bloomberg ETF analyst Eric Balchunas <a href="https://x.com/EricBalchunas/status/1845830274765967561" rel="noopener noreferrer nofollow">weighed in</a> on the rapid growth of Bitcoin ETFs, comparing them to gold-based products. While gold ETFs have seen $1.4 billion in net inflows this year, Bitcoin ETFs have amassed over $19 billion, with the digital asset hitting record highs five times in 2024. In contrast, gold reached its peak 30 times this year, but investors appear to be increasingly favoring Bitcoin ETFs over traditional safe-haven assets like gold.
<h2 id="span-style-font-weight-400-ethereum-etfs-lag-behind-in-the-rally-span">Ethereum ETFs Lag Behind in the Rally</h2>
While Bitcoin ETFs are experiencing a surge, <a href="https://thecoinrise.com/bitcoin-etfs-record-192m-inflows-while-ether-etfs-face-minor-outflows/" rel="noopener noreferrer nofollow">Ethereum-focused funds are struggling</a> to keep up. Bitwise, VanEck, Franklin, and Grayscale reported no net inflows for their Ethereum funds, with only modest inflows recorded for Fidelity and Invesco.
The standout performer for Ethereum was BlackRock’s iShares Ethereum Trust (ETHA), which garnered $14.3 million in inflows, bringing its total to just $17 million—small in comparison to Bitcoin’s towering figures.
Meanwhile, on October 15, Bitcoin is trading around $65,700, up by around 2% in the past 24 hours. On the other hand, Ether has recorded a 3.6% growth in its value, trading above $2,600 at the time of writing.
The post <a href="https://thecoinrise.com/bitcoin-etfs-see-surge-with-555-million-inflow-in-a-single-day/" rel="noopener noreferrer nofollow">Bitcoin ETFs See Surge with $555 Million Inflow in a Single Day</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Bitcoin ETFs See Surge with $555 Million Inflow in a Single Day

Table of Contents

TheCoinrise Media

Other articles published on Oct 15, 2024

What Will The Future Of Crypto Look Like If Harris Wins? Analysts Discuss Implications For XRP, E...

Supreme Court OKs U.S. Government to Sell $4.4 Billion in Seized Silk Road Bitcoin

Crypto Fraud Ring Tied to Ex-Mayor Guo Shocks Philippines

Sui foundation denies $400 million insider token sales allegation as SUI hits ATH

Crypto VC-Linked Entity Loses $36M to Phishing Attack - Report

Crypto Losses in 2024 Soar to $2.11 Billion, Surpassing 2023’s Annual Total: Report

Join our free newsletter for daily crypto updates!