On the 30th of October, the spot ETF sector of Bitcoin has seen a significant amount of inflow. As per SoSoValue, $BTC spot ETFs have experienced a net inflow of up to $893.21M while $ETH spot ETFs added a slight $4.36M in inflows.
Bitcoin ETFs Add $893M on October 30, Highlighting the 2nd-Biggest Record in Inflows
The staggering $893.21M in inflows denotes a noteworthy spike in Bitcoin’s market popularity. This inflow reportedly signifies the 2nd highest cumulative inflow in $BTC ETFs. This takes place after the record-setting inflow of approximately $1.05B that occurred back on the 12th of March this year. Among the Bitcoin ETFs, BlackRock has emerged as a chief player, accounting for a huge $4.3576M in its inflows.
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In addition to this, Fidelity’s Bitcoin ETF $FBTC also added $12.57M. Subsequently, Grayscale Mini’s $BTC ETF received $7.96M. Fidelity’s $ARKB gained $7.18M in the 1-day net inflow. Invesco’s $BTCO stood at $7.18M in terms of inflows while Valkyrie’s $BRRR pocketed $6.11M. VanEck ($HODL) saw $4.07M in cumulative inflows while no flows were recorded by Grayscale’s $GBTC. Bitwise ($BITB) was the only Bitcoin ETF with an outflow. Cumulatively $23.89M left the Bitcoin exchange-traded fund.
Ethereum ETFs Lag with a Slight $4.36M in Inflows
On the other hand, Ethereum ETFs added a minor amount of nearly $4.36M in daily net inflows. However, just 2 of the 9 $ETH ETFs recorded inflows. In this respect, Fidleity’s $FETH and 21Shares’ $CETH got $5.32M and $2.66M respectively. Bitwise ($ETHW) experienced an outflow of $3.63M. The other 6 Ethereum ETFs witnessed no flows at all.
Increasing ETF Inflows Denote a Spike in Institutional Interest in Bitcoin ETFs
Over the week, the Bitcoin exchange-traded funds have obtained $2.24B in cumulative inflows. In this respect, on the 29th of this month, $870.02M flowed into $BTC ETFs. However, in the rest of the days, the inflows were lower, ranging between $400M and $500M. In the case of $ETH ETFs, a cumulative amount of $10.87M entered the market.
On the 29th, the ETFs took $7.65M. Nevertheless, on the 25th and 28th, the $ETH ETFs also saw outflows amounting to $19.16M and $1.14M respectively. Contrarily, Bitcoin’s increasing ETF inflows indicate institutional interest, reinforcing its perception as “digital gold.”