Bitcoin ETFs have shown a significant upward trend over the past five days, with substantial inflows highlighted by BlackRock IBIT's leadership.

Record Bitcoin ETF inflows

On October 17, 12 spot Bitcoin ETFs recorded inflows totaling $470.48 million, resulting in a cumulative total exceeding $2.1 billion over the last five trading days. BlackRock's IBIT ETF attracted $309 million, leading for the third consecutive day. ARK Invest and 21Shares ARKB ETF, along with Grayscale's GBTC ETF, also showed significant activity.

Achievements and market impact

Total net inflows into spot Bitcoin ETFs crossed the $20 billion mark as of October 17. Bloomberg ETF analyst Eric Balchunas emphasized the importance of reaching this threshold, comparing it to the progress of gold ETFs. The milestone coincided with Bitcoin prices rising above the key $65,000 level.

Ethereum ETF growth

Meanwhile, Ethereum-focused ETFs are experiencing positive inflows, recording $48.41 million on October 17. Fidelity's FETH and BlackRock's ETHA ETFs led this trend. Despite these gains, cumulative net outflow from Ethereum ETFs reached $481.9 million, reflecting market volatility.

The continued inflow into Bitcoin and Ethereum ETFs shows a robust interest from investors in cryptocurrency products, supporting the market overall.