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

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Ruholamin Haqshanas

Author

Ruholamin Haqshanas

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto…

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Last updated:

October 18, 2024 05:38 EDT

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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.

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.