On October 17th, Spot Bitcoin exchange-traded funds recorded capital inflows for the third consecutive day and fifth consecutive day, led by BlackRock's IBIT.
The total inflows of the 12 Spot Bitcoin ETFs on this day reached $470.48 million, bringing the cumulative inflows over the past five business days to more than $2.1 billion.
BlackRock's IBIT ETF led the surge in inflows, raising $309 million on Oct. 17, according to SoSoValue data. This performance demonstrated IBIT's leadership for the third consecutive day.
While BlackRock's IBIT ETF leads the pack, other major players are also contributing to the continued stream of inflows. ARK Invest and 21Shares' ARKB ETF saw inflows of $120 million, while Grayscale's GBTC ETF saw inflows of $45.7 million.
Additional support came from Fidelity's FBTC, which recorded $11.96 million in inflows, and from Franklin Templeton's EZBC, which brought in $3.88 million. However, the other seven Bitcoin Spot ETFs remain neutral, with no inflows recorded as of October 17th.
With these continued inflows, total net inflows into the Spot Bitcoin ETF exceeded the $20 billion mark, reaching $20.66 billion as of October 17th.
Bloomberg ETF analyst Eric Balciunas emphasized the importance of this achievement in an October 17th X post, stating that crossing the $20 billion threshold is one of the most difficult and important metrics in the ETF world. He pointed out that it is. He compared this milestone to gold ETFs, which took about five years to reach the same level.
Nate Geraci, president of ETF Store, echoed this sentiment, describing the current inflow trend as a “vacuum” of capital.
The Spot Bitcoin ETF's cumulative inflows of over $20 billion coincided with Bitcoin's price rallying above the critical $65,000 level, with the price reaching 6.5 billion on September 30th. It's a milestone investors have been waiting for since the stock fell below $5,000.
At the time of writing, Bitcoin (BTC) is trading at $67,839, up 0.7% over the past 24 hours. The market's bullish momentum continues with intraday prices ranging from $66,738 to $68,159.
Spot Ethereum ETF records small gains
Meanwhile, Ethereum-focused ETFs are also seeing positive inflows. On October 17, the nine available Spot Ethereum ETFs recorded a total inflow of $48.41 million, up from $24.22 million the previous day.
Fidelity's FETH and BlackRock's ETHA ETF led the way, raising $31.12 million and $23.56 million, respectively.
Other investors include Grayscale's Ethereum Mini Trust, 21Shares' CETH, Biwise's ETHW, and Invesco's QETH, with inflows of $5.13 million, $2.33 million, $1.49 million, and $518.64 million, respectively. did.
Despite these recent gains, the Spot Ethereum ETF has experienced cumulative net outflows of $481.9 million to date, reflecting the more volatile nature of the asset in the current market environment. At the time of writing, Ethereum (ETH) was trading at $2,619.
