Bitcoin ETF

Bitcoin

Spot

Spot Bitcoin ETFs in the U.S. marked their fourth straight day of net inflows, while spot Ether ETFs reversed course, moving back into net positive flows.
<a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="noopener noreferrer nofollow">Data</a> from SoSoValue shows that the 12 spot Bitcoin ETFs recorded net inflows of $458.54 million on Oct. 16, marking the fourth consecutive day of positive inflows. Over this period, the funds have accumulated more than $1.63 billion.
BlackRock’s IBIT, the largest Bitcoin ETF by assets under management, continues to dominate, posting the highest net inflow for the second straight day. On Oct. 16, IBIT recorded an impressive $393.4 million inflows, its largest single-day gain since July 22. Since its launch, the fund has amassed $22.46 billion in cumulative net inflows.
Other major players also contributed to the surge in inflows. Fidelity’s FBTC attracted $14.81 million, Bitwise’s BITB secured $12.93 million, Franklin Templeton’s EZBC saw $11.79 million, and Ark 21Shares’ ARKB recorded $11.51 million in inflows.
Invesco Galaxy’s BTCO, VanEck’s HODL, and Valkyrie’s BRRR brought in $6.43 million, $5.75 million, and $1.92 million, respectively.
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The remaining spot Bitcoin ETFs, including <a href="https://crypto.news/tag/grayscale/" target="_blank" rel="noopener noreferrer nofollow">Grayscale</a>’s GBTC, saw no activity. Notably, since its inception, Grayscale’s GBTC has experienced a cumulative net outflow of $20.14 billion.
The crypto asset manager is now preparing to take a bold step by attempting to launch the first ETF that holds multiple cryptocurrencies, including Bitcoin, Ether, Solana, and XRP.
<a href="https://x.com/EricBalchunas/status/1846597139193123322" target="_blank" rel="noopener noreferrer nofollow">According </a>to Bloomberg analyst Eric Balchunas, the company aims to convert its Grayscale Digital Large Cap Fund (GDLC) into this mixed crypto ETF.
Given that Bitcoin and Ether comprise over 90% of the holdings, he believes there is a chance of approval despite concerns over the smaller portions of illiquid assets.
If successful, Grayscale could position itself ahead of competitors in the race for a diversified crypto ETF.
Meanwhile, the total net inflows into U.S. spot Bitcoin ETFs have now surpassed the $20 billion mark for the first time since their launch in January, a significant milestone for the burgeoning market.
While spot Bitcoin ETFs continue to attract significant capital, Bitcoin (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/bitcoin/">BTC</a>) itself has been moving sideways in the market. As of Oct. 17, BTC was trading at approximately $67,300 after briefly surpassing $68,250 the previous day, its highest point in two months.
Bitcoin’s market capitalization remains strong at $1.33 trillion, with a daily trading volume exceeding $36 billion.&nbsp;
<h2 class="wp-block-heading" id="ether-etfs-rebound-after-negative-flows">Ether ETFs rebound after negative flows</h2>
Alongside the resurgence in Bitcoin ETFs, spot Ether ETFs also show signs of recovery. After <a href="https://crypto.news/bitcoin-holding-strong-at-67k-amid-solid-etf-inflows/" target="_blank" rel="noopener noreferrer nofollow">recording net outflows</a> the previous day, the nine U.S.-based spot Ether ETFs reversed course on Oct. 16, logging net inflows of <a href="https://sosovalue.com/assets/etf/us-eth-spot" target="_blank" rel="noopener noreferrer nofollow">$24.22 million</a>.
BlackRock’s ETHA led the way with $11.89 million in inflows, while Fidelity’s FETH and VanEck’s ETHV attracted $8.5 million and $3.83 million, respectively.
The remaining ETH ETFs saw no trading activity on the day.
The spot Ether ETFs have experienced a cumulative total net outflow of $530.3 million. At the time of publication, Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) was exchanging hands at $2,628.
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Spot Bitcoin ETFs see four straight days of inflows, surpassing $1.6b, Ether ETFs rebound

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