Significant inflows into Bitcoin and Ethereum ETFs were recorded in the US market on October 17, indicating continued institutional interest in these assets.
Impressive Inflows into Bitcoin ETFs
On this date, 11 Bitcoin ETFs saw total inflows of $470.5M. This marked the fifth consecutive day of positive flows exceeding $250M. BlackRock dominantly leads the market, with its iShares Bitcoin Trust ($IBIT) receiving 4,619 BTC, amounting to $309M. This is the third consecutive day of $IBIT's dominance in the ETF sector.
Ethereum ETFs Stabilize at $8.4M
Ethereum ETFs recorded positive inflows of $48.4M across various funds, marking the second consecutive day of positive flows. $FETH by Fidelity led the day with $31.1M, followed closely by $ETHA from BlackRock attracting $23.6M. However, not all Ethereum ETFs saw positive results as $ETHE from Grayscale experienced an outflow of $15.7M.
Overall Interest in Crypto Assets
The overall net inflow of Ethereum ETFs is around -$474M after sixty-two trading days. Nonetheless, the current spike in inflows, notably in Bitcoin ETFs, points to increasing institutional interest in crypto assets.
The growth in institutional inflows into crypto ETFs in the US demonstrates a substantial interest in Bitcoin and Ethereum, reinforcing confidence in these digital assets' future.