Bitcoin Spot ETFs Surge With $800M Inflows in Two Days

Bitcoin spot exchange-traded funds (ETFs) welcomed $800 million in inflows in just two days, according to data from SoSoValue data. This surge highlights a renewed interest from both institutional and retail investors. 

Strong Performance on Oct. 11.

On October 11, the twelve U.S. spot Bitcoin ETFs recorded net inflows totaling $253.54 million. Fidelity's Bitcoin ETF (FBTC) led the pack, attracting $117.10 million. Other notable performers included Ark Invest’s ARKB, which brought in $97.58 million, and Bitwise’s BITB, adding $38.81 million.

However, not all ETFs enjoyed the same success. 

The nine spot Ethereum ETFs faced modest outflows, totaling approximately $97,110. Fidelity’s FETH managed to capture $8.61 million, while Grayscale’s ETHE experienced a slight decline, giving back $8.71 million.

A Record-Breaking Day on October 14

The excitement continued on October 14, when Bitcoin spot ETFs experienced their largest single-day inflow in over four months. On this day, they attracted a staggering $555.9 million in net inflows, the highest since early June.

This influx coincided with Bitcoin reaching a two-week high of $66,500.

The Fidelity Wise Bitcoin Origin Fund (FBTC) once again led the inflows, securing $239.3 million—the fund’s highest inflow since June 4. Bitwise’s BITB and BlackRock’s iShares Bitcoin Trust (IBIT) also had impressive inflows, with $100 million and $79.6 million, respectively. 

Ark Invest’s ARKB saw inflows of just under $70 million, while Grayscale’s GBTC recorded its first inflow of October, adding $37.8 million.

Nate Geraci, President of the ETF Store, described the day as a “monster day” for Bitcoin ETFs. He noted that these funds are now approaching $20 billion in net inflows over the past ten months. 

“Simply ridiculous and blows away every pre-launch demand estimate,” he stated in a recent X post. “This is NOT ‘degen retail’; it’s advisers and institutional investors continuing to slowly adopt.”

Meanwhile, Eric Balchunas, a senior ETF analyst at Bloomberg, highlighted the growing popularity of Bitcoin ETFs compared to gold-based products. 

According to Balchunas, Bitcoin's net inflows of more than $19 billion illustrate its appeal among investors. In contrast, gold ETFs have experienced only $1.4 billion in net inflows this year.

Meanwhile, BlackRock CEO Larry Fink has made strong statements supporting Bitcoin, describing it as an asset class in its own right during Q3 earnings call. He has drawn comparisons between Bitcoin and traditional commodities like gold and has indicated that BlackRock is engaging with global institutions about potential Bitcoin allocations.

Ethereum ETFs Struggle

While Bitcoin ETFs thrive, the situation is different for Ethereum funds. Bitwise, VanEck, Franklin, and Grayscale reported zero net flows. Fidelity and Invesco managed to achieve only minor inflows. 

The BlackRock iShares Ethereum Trust (ETHA) did see an inflow of $14.3 million, bringing its total to $17 million on Oct. 14.