The US-based Spot Bitcoin Exchange Traded Fund recorded net inflows of $253.6 million on October 11, marking the third consecutive day of outflows.
The Fidelity Wise Origin Bitcoin Fund led the pack with $117.1 million in net inflows, followed by the ARK 21Shares Bitcoin ETF with $97.6 million, according to Farside Investors. data is shown.
The Bitwise Bitcoin ETF raised $38.8 million, its highest amount in 11 trading days, while the Invesco Galaxy and VanEck Bitcoin ETFs also saw inflows.
BlackRock's iShares Bitcoin Trust (IBIT) recorded zero flows on the day, as did Bitcoin ETFs issued by Franklin Templeton, Valkyrie, and WisdomTree.
This day was the third largest total inflow that BlackRock's IBIT could not contribute to.
Meanwhile, Grayscale Bitcoin Trust drained another $22.1 million.
US Spot Bitcoin ETF flows (green) on October 11th. Source: Farside Investors
The $253.6 million inflow exceeded the $140 million outflow from Bitcoin ETFs from October 8th to October 10th.
According to CoinGecko, Bitcoin rose 7.3% to a local high of $63,360 on October 11, before falling to its current price of $62,530. data is shown.
BlackRock continues to lead spot Bitcoin ETF issuers with $21.7 billion in total net inflows, while Fidelity is $15 million away from reaching the $10 billion milestone.
ARK 21Shares and Bitwise are the only spot Bitcoin ETF issuers with more than $2 billion in net inflows.
Related: SEC delays decision on Spot Ethereum ETF options again
Total net inflows across Bitcoin Spot ETFs now stand at $18.9 billion, including more than $20 billion in outflows from the Grayscale Bitcoin Trust.
Ethereum ETF flows continue to struggle
Seven out of nine US-based Spot Ether (ETH) ETFs hit 0 on October 11th, the third time in the past five trading days.
The Spot Ether ETF had a combined net outflow of $100,000 on October 11th, with all inflows coming from the Fidelity Ethereum Fund, Farside Investors. data is shown.
Grayscale Ethereum Trust lost $8.7 million.
ETH ETFs issued by 21Shares, VanEck, and Invesco have had at least eight consecutive “0” days.
The lower demand compared to the Spot Bitcoin ETF could be due to the Spot Ether ETF being launched at the wrong time, Bitstamp Americas CEO Bobby Zagotta recently told Cointelegraph. spoke.
“In this moment, people are waiting. I think they're in a wait-and-see mode because of the election uncertainty, the regulatory issues in the U.S., the socio-political issues, but relatively speaking, right now… Everything is a little flat.”
I'm also not entirely convinced that Wall Street investors understand Ethereum's highly technical roadmap, and some have difficulty understanding where Ethereum's value lies.
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