More than half a billion dollars have flowed into Spot Bitcoin ETF funds in the United States, with the largest cryptocurrency by market capitalization reaching a price of $66K.
Spot Bitcoin ETF funds in the United States have seen a record inflow of over half a billion dollars in a single day, the largest since June. According to data from Farside Investor, 11 ETF funds saw a total net inflow of $555.9 million on October 14, their largest daily net inflow since the beginning of June. This occurred as Bitcoin reached a two-week high of $66,500 at the end of the trading session.
ETF Store President Nate Geraci called this a "monster day" for Spot Bitcoin ETF funds, adding that their net inflows have now reached nearly $20 billion over the past 10 months.
"It's simply blowing away any pre-launch demand estimates," he said in an X post on October 15. "This is NOT just 'retail', but advisors and institutional investors gradually getting involved."
The Fidelity Wise Bitcoin Origin Fund (FBTC) (FBTC) was the leading fund with an inflow of $239.3 million, its highest since June 4.
Bitwise Bitcoin ETF (BITB) saw over $100 million, while BlackRock's iShares Bitcoin Trust (IBIT) saw an inflow of $79.6 million. Ark 21Shares Bitcoin ETF (ARKB) had an inflow just under $70 million, and Grayscale Bitcoin Trust (GBTC) saw its first October inflow of $37.8 million, the highest since early May.
In an X post on October 14, Bloomberg senior analyst Eric Balchunas compared Bitcoin ETFs to gold-based products, noting that since the BTC fund launched in January, the asset has hit ATH 5 times. In contrast, gold has hit record highs 30 times this year, but gold ETFs have only seen $1.4 billion in net inflows compared to over $19 billion for Bitcoin ETFs.
However, Ethereum funds have not seen similar momentum, with net flows of 0 for Bitwise, VanEck, Franklin, and Grayscale, and small inflows for Fidelity and Invesco. BlackRock's iShares Ethereum Trust (ETHA) saw an inflow of $14.3 million, bringing the total to $17 million.
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The article Spot Bitcoin ETF funds saw a $556 million inflow on the largest day since June first appeared on CoinMoi.
