Spike

Bitcoin

Spot

<ul>
 <li>United States spot Bitcoin ETFs saw their largest single-day inflow in over four months on October 14, with $556 million in net inflows.</li>
 <li>Additionally, BTC has seen an uptick of more than 5% in the past week.</li>
</ul>
The U.S. spot Bitcoin ETFs have set a new record of net inflows since early June. According to <a href="https://www.ethnews.com/3-low-priced-tokens-poised-to-beat-solana-sol-and-gain-15000-by-2025/" target="_blank" rel="noopener noreferrer nofollow">Farside Investors</a>, the United States Spot Bitcoin ETFs in unison recorded a net inflow of $555.9 million, a staggering spike not seen in the past 4 months. This influx came as Bitcoin itself recorded a surge in its price value.&nbsp;
Shifting slightly, Bitcoin is currently swapping hands with $65,722.45 marking a 2.49% and 5.68% surge in the past 24 hours and past week respectively. Additionally, both its market cap and 24-hour trading volume have recorded upticks of 2.33% and 61.80% respectively.
This surge has evinced a rising trend in the adoption of this asset vehicle. Nate’s heart swelled with joy as he realized this trading day was a “monster day” for spot Bitcoin ETFs. Additionally, Nate emphasized that this new asset vehicle that saw its inception early this year would be approaching $20 billion over the past 10 months.
This time, the heavy hitters were shown some respect when Geraci highlighted via an X <a href="https://x.com/NateGeraci/status/1846015202564747387" target="_blank" rel="noopener noreferrer nofollow">post</a> that “Simply ridiculous and blows away every pre-launch demand estimate, this is NOT ‘degen retail,’ it’s advisers and institutional investors continuing to slowly adopt.”
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Monster day for spot btc ETFs…
 $550mil inflows.
 Now approaching *$20bil* net inflows in 10mos.
 Simply ridiculous &amp; blows away every pre-launch demand estimate.
 This is NOT “degen retail” $$$ IMO.
 It’s advisors &amp; institutional investors continuing to slowly adopt.
 — Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1846015202564747387?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 15, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Diving into details, Fidelity’s Wise Bitcoin Origin Fund (FBTC) emerged as the top beneficiary during the surge, with an impressive inflow of $239.3 million. This marks its highest single-day intake since June 4. Other significant contributors to the surge include the Bitwise Bitcoin ETF (BITB), which garnered over $100 million, and BlackRock’s iShares Bitcoin Trust (IBIT), which pulled in $79.6 million.
Meanwhile, the Ark 21Shares Bitcoin ETF (ARKB) recorded <a href="https://www.ethnews.com/record-growth-in-bitcoin-etfs-why-investment-advisors-are-jumping-on-the-crypto-bandwagon/" target="_blank" rel="noopener noreferrer nofollow">inflows</a> of just under $70 million, and Grayscale’s Bitcoin Trust (GBTC) saw its first inflows for October, totaling $37.8 million, the highest since May.&nbsp;
The collective inflows signal a renewed interest in Bitcoin ETFs as Bitcoin’s price continues to trend upwards.
<h3 id="b-bitcoin-etfs-surge-following-287m-outflow-b">Bitcoin ETFs Surge Following $287M Outflow</h3>
As the crypto community celebrated this major milestone, not long ago, the Bitcoin ETF industry&nbsp;bled $287M, the largest Daily Outflow in Four Months. The U.S. spot bitcoin exchange-traded funds (ETFs) had a rough day as growth concerns and a sell-off in Nvidia dented market sentiment.
The 11 ETFs registered a cumulative net outflow of $287.8 million, the largest single-day tally since May 1, when the funds bled over $500 million, according to data tracked by Farside Investors.
<h3 id="b-ethereum-etfs-lag-behind-b">Ethereum ETFs Lag Behind</h3>
While Bitcoin ETFs have seen a surge of interest, <a href="https://www.ethnews.com/bitcoin-etfs-struggle-with-withdrawals-ethereum-surges-analysts-say-dogen-could-be-the-next-breakout/" target="_blank" rel="noopener noreferrer nofollow">Ethereum-based</a> ETFs have not enjoyed the same level of enthusiasm. Several major Ethereum funds, including those from Bitwise, VanEck, and Grayscale, reported zero net inflows. However, BlackRock’s iShares Ethereum Trust (ETHA) saw a modest inflow of $14.3 million, bringing its total for the day to $17 million.
The post <a href="https://www.ethnews.com/us-spot-bitcoin-etfs-surge-with-556m-inflows-largest-single-day-spike-since-june/" rel="noopener noreferrer nofollow">US Spot Bitcoin ETFs Surge with $556M Inflows – Largest Single-Day Spike Since June</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

US Spot Bitcoin ETFs Surge with $556M Inflows – Largest Single-Day Spike Since June

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