Spot Bitcoin ETFs Gain Nearly $1 Billion, Marking 3-Week Uptick

The US spot Bitcoin ETFs had another strong week with roughly $1 billion in inflows. Spot Ethereum ETFs have battled with outflows throughout the same time.


Bitcoin Spot ETFs Bring $3 Billion In 11 Days

After a strong performance in October's third week, when the Spot Bitcoin ETFs received $2.18 billion in market inflows, these institutional funds attracted $997.70 million the following week. Spot Bitcoin ETFs saw positive netflows on all weekdays until Tuesday, October 22nd, when they lost $79.09 million, according to SoSoValue.

The greatest inflows were $402.08 million on Friday, October 25. BlackRock's IBIT took $291.96 million, bringing its net inflows to $23.99 billion.

Ark & 21 Shares' ARKB received $33.37 million, while Fidelity's FBTC came in second with $56.95 million. Bitwise's BITB, Grayscale's BTC, and VanEck's HODL also gained on Friday, with $2.55 million, $5.92 million, and $11.34 million respectively.

These Friday positive net flows indicate spot Bitcoin ETFs have received almost $3 billion in inflows in the previous eleven trading days. In response to this news, prominent crypto analyst Michaël van de Poppe expressed the community's delight, citing substantial institutional interest in Bitcoin.

The Spot Bitcoin ETFs have $21.93 billion in net inflows and $65.25 billion in net assets, representing 4.93% of Bitcoin market shares.

Ethereum ETFs Lose Again

In other developments, the spot Ethereum ETF market lost $24.45 million in withdrawals last week, marking its 11th week of negative returns since July 26. These Ethereum ETFs have $6.82 billion in net assets but $504.44 million in net outflows.

Bitcoin and Ethereum were at $67,077 and $2,484 at press time after a little decrease the day before.
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