Spot Bitcoin ETFs record largest single-day inflow in over four months

Spot Bitcoin exchange-traded funds in the United States experienced their biggest inflow in more than four months; This reflects investor interest in Bitcoin as the cryptocurrency market recovers.

Data from SoSoValue shows that net inflows across 12 Bitcoin ETFs on October 14 reached $555.86 million, more than double the $253.54 million recorded on the previous trading day.

Among the 12 ETFs, Farside’s FBTC led with an impressive $239.25 million, marking its largest inflow since June 4 and marking its second consecutive day of inflows. Bitwise’s BITB fund also recorded strong inflows of $100.2 million, while BlackRock’s IBIT recorded new investments of $79.51 million after a brief pause in activity.

Other notable funds, including ARK Invest and 21Shares’ ARKB, recorded inflows of $69.8 million, and Grayscale’s GBTC recorded its first inflow since September 27 with $37.77 million into the fund. Grayscale’s GBTC has faced challenges, with a cumulative outflow of $20.15 billion since launch, despite recent positive momentum.

Smaller funds such as HODL, EZBC, BTCO, Grayscale Bitcoin Mini Trust, and Valkyrie’s BRRR collectively contributed $29.34 million in inflows.

As the Bitcoin (BTC) price reached a two-week high on October 14, rising from $62,500 to an intraday peak of $66,500, trading volumes in Bitcoin ETFs also increased. Total volume across 12 Bitcoin ETFs rose to $2.61 billion, reflecting renewed optimism in the market.

At press time, Bitcoin was trading at $65,268, and ETF Shop President Nate Geraci described it as a “monster day” for spot Bitcoin ETFs.

Over the past ten months, Bitcoin ETFs have generated a staggering net inflow of $19.36 billion, and analysts are predicting further growth.

Bloomberg senior ETF analyst Eric Balchunas compared Bitcoin ETFs to gold-based products in an Oct. 14 post, noting that Bitcoin funds have reached all-time highs five times since their launch in January.

By contrast, gold ETFs have seen net inflows of only $1.4 billion this year, despite gold hitting record highs 30 times in 2024.

Ethereum ETFs struggle to keep up with Bitcoin’s performance

While Bitcoin ETFs had a significant inflow day, Ethereum ETFs saw a relatively muted response. Total net inflows into Ethereum-focused funds on October 14 were just $17.07 million, with BlackRock’s ETHA fund leading the way with $14.31 million.

Fidelity’s FETH, Invesco’s QETH, and 21Shares’ CETH recorded smaller inflows of $1.31 million, $1.05 million, and $393.69 thousand, respectively, while other spot Ethereum ETFs recorded new did not see entry.

Despite modest inflows, Ethereum ETF trading volumes increased, rising to $210.4 million on October 14 from $143.54 million the previous day. However, since their July launches, Ethereum ETFs have faced a total net outflow of $541.82 million. At the same time, the price of Ethereum (ETH) showed signs of recovery, rising 2.8% to $2,594 at the time of writing.