The $254 million inflow day was the third-largest ever on days when BlackRock’s IBIT failed to contribute.
United States-based spot Bitcoin exchange-traded funds tallied $253.6 million in net inflows on Oct. 11 — breaking three consecutive trading days of outflows.
The Fidelity Wise Origin Bitcoin Fund led all with a net inflow of $117.1 million, while the ARK 21Shares Bitcoin ETF saw $97.6 million, Farside Investors data shows.
The Bitwise Bitcoin ETF raked in $38.8 million — its largest in 11 trading days — while the Invesco Galaxy and VanEck Bitcoin ETFs saw inflows too.
BlackRock’s iShares Bitcoin Trust (IBIT) recorded a “0” flow on the day, as did the Bitcoin ETFs issued by Franklin Templeton, Valkyrie and WisdomTree.
It was the third-largest combined inflow day in which BlackRock’s IBIT failed to contribute.
Meanwhile, the Grayscale Bitcoin Trust bled another $22.1 million.
The $253.6 million inflow more than covered the $140 million that left the Bitcoin ETFs between Oct. 8 and 10.
It followed a 7.3% Bitcoin rally to a local high of $63,360 on Oct. 11 before cooling off to $62,530 at current prices, CoinGecko data shows.
BlackRock continues to lead all spot Bitcoin ETF issuers with $21.7 billion in total net inflows, while Fidelity is $15 million away from surpassing the $10 billion milestone.
ARK 21Shares and Bitwise are the only other two spot Bitcoin ETF issuers with net inflows of $2 billion or more.
Total net inflows across all spot Bitcoin ETFs currently amount to $18.9 billion, which includes over $20 billion in outflows from the Grayscale Bitcoin Trust.
Ethereum ETF flows continue to struggle
Seven of the nine US-based spot Ether ETH$2,445.42 ETFs recorded a “0” on Oct. 11 — marking the third time that has happened in the last five trading days.
The spot Ether ETFs combined for a $0.1 million net outflow on Oct. 11 with all inflows coming from the Fidelity Ethereum Fund, Farside Investors data shows.
The Grayscale Ethereum Trust bled $8.7 million.
The 21Shares, VanEck and Invesco-issued ETH ETFs and have now seen at least eight consecutive “0” days.
The low demand — relative to spot Bitcoin ETFs — could be attributed to the spot Ether ETFs launching at the wrong time, Bitstamp CEO for the Americas Bobby Zagotta
“In this moment, people are waiting. I think they’re in the wait-and-see mode because of the uncertainty in the election, the regulatory stuff in the US, some of the sociopolitical stuff — everything is a little bit flat right now, relatively speaking.”
Others aren’t entirely convinced that Wall Street investors understand Ethereum’s highly technical roadmap — making it difficult for them to see where Ethereum’s value lies.
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