Bitcoin ETFs Record $526.6 Million Inflows as BlackRock IBIT Leads Buying
U.S. spot Bitcoin ETFs recorded $526.6 million in net inflows on Monday, marking their strongest daily result in nearly a month as BlackRock's iShares Bitcoin Trust (IBIT) attracted substantially more capital than the other funds combined. The inflows reversed the previous week's withdrawals, although the funds remained in negative territory for October.
According to SoSoValue data, IBIT attracted $665.2 million, its largest single-day inflow since Oct. 7 last year. The latest aggregate inflow was the strongest for U.S. spot Bitcoin ETFs since Sept. 22, when the funds recorded $714.7 million in net additions.
The figures highlight how concentrated Monday's demand was in BlackRock's Bitcoin investment product, with outflows from other funds offsetting part of IBIT's gains.
BlackRock IBIT Drives Bitcoin ETF Inflows
While IBIT brought in $665.2 million, Fidelity's Wise Origin Bitcoin Fund (FBTC) recorded $83.6 million in net outflows. Grayscale Bitcoin Trust (GBTC) also lost $54.9 million during the session, according to SoSoValue.
The remaining spot Bitcoin ETFs reported no net flows. As a result, BlackRock's fund was responsible for more than the industry's overall net inflow, with withdrawals from Fidelity and Grayscale reducing the combined total to $526.6 million.
The daily inflow more than offset the $228.5 million withdrawn from the funds during the previous week. However, calculations by CoinDesk using SoSoValue's figures showed that U.S. spot Bitcoin ETFs were still down approximately $90.5 million in net flows for October.
The latest figures therefore indicate a strong daily return of capital to Bitcoin investment products, but they do not yet erase the funds' cumulative net outflows for the month.
Ether ETFs Extend Their Outflow Streak
Spot Ether ETFs experienced the opposite trend on Monday, recording $103.3 million in net outflows for a fourth consecutive trading session. BlackRock's iShares Ethereum Trust (ETHA) accounted for $95.4 million of the withdrawals, according to SoSoValue.
The contrasting flows show that investment activity differed between Bitcoin and Ether products during the session. While Bitcoin ETFs attracted net capital, Ether funds continued to face withdrawals, with BlackRock's ETHA representing most of the reported losses.
Bitcoin and Ether ETF Flows Diverge
Monday's figures placed BlackRock at the center of activity in both markets, but the direction of flows differed sharply between its Bitcoin and Ether products. IBIT recorded $665.2 million in inflows, while ETHA experienced $95.4 million in outflows.
For Bitcoin ETFs, the overall daily result was positive despite withdrawals from Fidelity and Grayscale. Nevertheless, the approximately $90.5 million October net outflow shows that the latest session alone was not enough to return the funds to positive territory for the month.
source: coindesk
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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