In a significant move for the crypto market, Bitcoin spot ETFs witnessed a substantial inflow from October 14 to 18 while Ethereum followed it. As per Spot On Chain, a well-known on-chain analytics provider, $BTC ETFs recorded a huge amount of up to $2.13B in net inflows while $ETH ETFs reached $78.9M in cumulative inflows in the meantime. The analytics platform took to its official social media account to provide the details of this surge in ETF inflows.

                                                                                     Bitcoin Spot ETF Flows – SpotOnChain

Bitcoin ETFs Record an Inflow of $2.13B Between October 14 to 18

Spot On Chain mentioned that the staggering inflow of nearly $2.13B signifies mounting interest among the institutions for digital assets. Throughout the week, the net inflow for the $BTC exchange-traded funds effectively maintained a steady pattern of resilient inflows. In this respect, the Bitcoin ETFs saw a minimum of $270M in terms of exclusive investments each day of the week.

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This consistent influx of huge amounts of funds indicates a strong position of the chief crypto token. Hence, Bitcoin has maintained its status as a prominent store of value as well as an inflation hedge. This narrative about Bitcoin has been resonating among both institutional and retail investors alike. BlackRock’s $IBIT ETF reportedly stood out as the top performer in Bitcoin’s ETF sector.  It led the market by adding 16,974 $BTC in total inflows. This figure accounts for almost $1.14B. As a result of this, the cumulative $BTC holdings of BlackRock have reached a remarkable 386,615 $BTC with a value of $26.5B.

Ethereum ETFs Follow the Suit with the Inclusion of $78.9M

Though Bitcoin dominated the market, Ethereum also went through a noteworthy uptick in terms of inflows in its spot ETFs. During the days between October 14 and 18, $ETH ETFs experienced $78.9M in net inflows. However, this figure was quite smaller in comparison with the inflows that $BTC ETFs made. Even then, the positive flows in Ethereum ETFs point toward a strong interest in Ethereum. Particularly, the investors looking for a digital asset reaching beyond the status of just a store of value reportedly opt for Ethereum. A possible reason behind this interest takes into account Ethereum’s growing DeFi ecosystem and smart contract functionalities.