US Spot Bitcoin ETFs Attract $556M in Largest Inflow Day Since June

Spot Bitcoin exchange-traded funds (ETFs) in the United States saw their largest single-day inflows in over four months, with more than half a billion dollars pouring in.

On October 14, the 11 ETFs recorded combined net inflows of $555.9 million, marking their biggest daily increase since early June, according to Farside Investors. This surge occurred as Bitcoin reached a two-week high of $66,500 during late trading.

Nate Geraci, President of ETF Store, described it as a “monster day” for spot Bitcoin ETFs, noting that these funds are now nearing $20 billion in net inflows over the past 10 months.

“Simply incredible, far exceeding all pre-launch expectations,” Geraci said in an October 15 post on X. “This isn’t just retail investors, but also financial advisers and institutional investors slowly embracing Bitcoin.”

Leading the charge was the Fidelity Wise Bitcoin Origin Fund (FBTC), which saw an inflow of $239.3 million, its largest since June 4. The Bitwise Bitcoin ETF (BITB) followed with just over $100 million, while BlackRock’s iShares Bitcoin Trust (IBIT) saw $79.6 million in inflows.

The Ark 21Shares Bitcoin ETF (ARKB) also performed well, with nearly $70 million in inflows, and the Grayscale Bitcoin Trust (GBTC) saw $37.8 million enter, its highest figure since early May.

Eric Balchunas, a senior ETF analyst at Bloomberg, compared the performance of Bitcoin ETFs to gold-based products in an October 14 post on X. He noted that Bitcoin ETFs have reached all-time highs five times since their launch in January, whereas gold has hit record levels 30 times this year. However, gold ETFs have only attracted $1.4 billion in net inflows compared to over $19 billion for Bitcoin ETFs.

On the other hand, Ethereum funds have not experienced the same level of success. Bitwise, VanEck, Franklin, and Grayscale recorded no net flows, while Fidelity and Invesco saw only modest activity. BlackRock’s iShares Ethereum Trust (ETHA) was the standout with an inflow of $14.3 million, bringing its total to $17 million.

For more news, find me on Twitter Giannis Andreou and subscribe to My channels Youtube and Rumble

What is your opinion on this particular topic?  Leave us your comment below!  We are always interested in your opinion!