After a sluggish start to October for Bitcoin ETFs, signs of recovery appear as Fidelity and BlackRock show significant capital inflows.

Investment Flows into Bitcoin ETFs

Farside Investors reported notable inflows into BTC ETFs on October 7th, totaling $235.2 million, marking two days of positive capital movement. Fidelity’s FBTC ETF led the influx, attracting $103.7 million. BlackRock’s IBIT, the largest Bitcoin ETF by assets, also experienced a strong inflow of $97.9 million, bouncing back from zero activity on October 4th. Other ETFs such as Bitwise’s BITB, Ark and 21Shares’ ARKB, VanEck’s HODL, and Invesco’s BTCO also saw inflows.

Price and Judicial Decisions

As Bitcoin ETFs attract more investor attention, Bitcoin’s price has been struggling, currently trading around $62,497. This coincides with a significant legal decision by the U.S. Supreme Court regarding the ownership of a large amount of Bitcoin seized from the Silk Road dark web marketplace.

Ethereum ETFs and Market

In contrast to BTC ETFs, US spot Ethereum ETFs saw no activity on October 7th, following inflows and outflows in the previous days. Additionally, trading volume across nine ETH ETFs declined. On the price front, Ethereum was down by 1.35%, trading at $2,436, reflecting the shifting dynamics in the crypto space.

Bitcoin ETFs are showing signs of recovery, notably due to Fidelity and BlackRock, while Ethereum ETFs face a drop in activity. This may shift the dynamics within the crypto market.