Spot Bitcoin ETFs Attract $2.11B in Inflows Over Past 5 Days as Interest Remains Strong

Spot Bitcoin ETFs have attracted $2.11 billion in net inflows over the past five trading days, suggesting the continued strong interest in the asset class.

According to data from SoSo Value, the funds saw a daily net inflow of $470.48 million on October 17 alone.

The cumulative activity has brought total inflows to a record $20.66 billion.

BlackRock Leads in Terms of Inflows

BlackRock’s Bitcoin ETF (IBIT), trading on NASDAQ, attracted a net inflow of $309 million on October 17, making it one of the largest contributors to the total daily inflow for Bitcoin ETFs.

BlackRock’s ETF remains a significant player in the Bitcoin ETF space, boasting total net assets of $25.79 billion.

Other key ETFs, such as Grayscale’s Bitcoin Trust (GBTC), saw a smaller net inflow of $45.7 million on the same day, despite having a cumulative outflow of $20.10 billion overall.

Fidelity’s Bitcoin ETF (FBTC), listed on CBOE, also recorded $11.69 million in net inflows, contributing to its cumulative total of $10.29 billion in net assets.

On October 17, the total net inflow of Bitcoin spot ETFs was $470 million. The inflow of BlackRock ETF IBIT was $309 million. Ark Invest and 21Shares' ETF ARKB had a net inflow of $100 million. Ethereum spot ETF inflow was $48.4 million. https://t.co/59u0BnEqLG

— Wu Blockchain (@WuBlockchain) October 18, 2024

Likewise, Ethereum ETFs recorded a daily net inflow of $48.41 million, signaling a resurgence of investor interest in the asset.

BlackRock’s Ethereum ETF (ETHA), traded on NASDAQ, stood out with a net inflow of $23.56 million.

Grayscale’s Ethereum Trust (ETHE), trading on the NYSE, saw a smaller but significant net inflow of $5.13 million, bringing its total net assets to $1.02 billion.

Fidelity’s Ethereum ETF (FETH), listed on CBOE, attracted an impressive $31.12 million in net inflows, contributing to its growing cumulative inflows of $498.02 million.

Despite these inflows, the cumulative net inflow across Ethereum ETFs remains in the negative, standing at -$481.9 million.

Grayscale’s second listing for Ethereum, ETHE, showed a net outflow of $15.74 million on October 17.

However, the total net assets across Ethereum ETFs amounted to $7.18 billion, accounting for 2.30% of Ethereum’s total market capitalization.

Nearly Half of U.S. Investors Plan to Invest in Crypto ETFs

A recent survey commissioned by financial services giant Charles Schwab revealed that U.S. investors are increasingly interested in ETFs holding cryptocurrencies.

The survey found that 45% of respondents plan to invest in crypto through ETFs over the next year, an increase from 38% the previous year.

The growing interest in crypto has now surpassed demand for bonds and alternative assets, with only U.S. equities ranking higher, as 55% of participants indicated plans to invest in stocks.

Millennial ETF investors showed even stronger enthusiasm for crypto, with 62% intending to allocate funds to the sector, compared to 48% for U.S. stocks, 47% for bonds, and 46% for real assets like commodities.

In contrast, baby boomer ETF investors demonstrated significantly less interest in digital assets, with just 15% planning to invest in them.

“Pretty stunning,” Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, said about crypto’s high ranking in investment plans in the survey.

New Schwab survey is out where they asked ETF investors which asset classes they plan on investing in over next year via ETFs…

#1 for Millennials? Crypto.

Crypto was #2 for all investors.

"No demand." pic.twitter.com/55sy3foCZ5

— Nate Geraci (@NateGeraci) October 10, 2024