Bitcoin ETF

Bitcoin

Spot

Spot Bitcoin exchange-traded funds recorded $294.29 million in net inflows on Oct. 22 even as Bitcoin’s price fell below $67,000.
On Oct. 22, Bitcoin saw a price drop of 3.25%, falling from an intraday high of $69,227 to a low of $66,975. This decline contributed to over <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener noreferrer nofollow">$167 million</a> in long liquidations across the crypto market, with Bitcoin alone accounting for $40.53 million of these liquidations, second only to Ethereum, which saw $55.9 million in long liquidations.
At the time of writing, Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) was trading at around $67,500, down 2.3% in the past 24 hours.
The downturn in Bitcoin’s price did not dampen investor confidence in spot Bitcoin ETFs, which have now recorded seven consecutive days of inflows. The U.S.-based spot Bitcoin ETFs concluded last week with over <a href="https://crypto.news/bitcoin-etfs-surpass-2-1b-weekly-inflows-whale-accumulation-mirrors-2020-rally/" target="_blank" rel="noopener noreferrer nofollow">$2.1 billion</a> in total inflows and continued the trend with an additional <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="noopener noreferrer nofollow">$29</a><a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="noopener noreferrer nofollow">4</a><a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="noopener noreferrer nofollow">.29 million</a> at the start of this week.
<a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/Blackrock/">Bla</a><a href="https://crypto.news/tag/Blackrock/" target="_blank" rel="noopener noreferrer nofollow">c</a><a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/Blackrock/">kRock</a>’s IBIT led the charge on Oct. 21, drawing in $329.03 million. The IBIT fund has quickly emerged as a favored investment vehicle for those seeking exposure to Bitcoin, amassing over $1 billion in net inflows last week alone, accounting for half of all U.S. spot Bitcoin ETF inflows.
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/blackrocks-26b-bitcoin-etf-crowned-fastest-growing-fund/"> BlackRock’s $26b Bitcoin ETF crowned fastest growing fund </a>
The fund’s strong performance has pushed it to surpass Vanguard’s Total Stock Market ETF in year-to-date inflows, positioning it third overall, <a href="https://x.com/EricBalchunas/status/1848336272483299828" target="_blank" rel="noopener noreferrer nofollow">according </a>to Bloomberg ETF analyst Eric Balchunas.
Fidelity’s FBTC also reported gains, with approximately $5.9 million in inflows on Monday. However, not all ETFs shared in the success. Competing funds such as Bitwise’s BITB, ARK and 21Shares’ ARKB, VanEck’s HODL, and Grayscale’s GBTC experienced redemptions totaling over $40 million, while other ETFs saw no inflows.
<h2 class="wp-block-heading" id="ethereum-etfs-face-outflows-amidst-market-downturn">Ethereum ETFs face outflows amidst market downturn</h2>
While Bitcoin ETFs saw robust inflows, Ethereum-based ETFs faced a different scenario.
On Oct. 21, spot Ethereum ETFs recorded <a href="https://sosovalue.com/assets/etf/us-eth-spot" target="_blank" rel="noopener noreferrer nofollow">$20.8 million</a> in net outflows, ending a three-day streak of inflows. Grayscale’s ETHE led the outflows, with $29.58 million exiting the fund.
BlackRock’s ETHA and VanEck’s ETHV managed to offset some of the outflows, recording inflows of $4.86 million and $3.92 million, respectively. However, the remaining spot Ethereum ETFs saw no activity for the day.
At the time of writing, Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) was trading at $2,643, down 3.4% over the past 24 hours.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/is-bitcoin-warming-up-for-a-100k-explosion-heres-whats-brewing/"> Is Bitcoin warming up for a $100K explosion? Here’s what’s brewing </a>

Spot Bitcoin ETFs record $294m inflows despite BTC retreating below $67K

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