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    Bitcoin ETFs end three-day skid with $254M inflow

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    On October 11, Bitcoin exchange-traded funds (ETFs) in the US saw an influx of $253.6 million, led by the Fidelity Wise Origin Bitcoin Fund which pulled in $117.1 million. This surge more than compensated for the previous three days of outflows. Despite the boost, Grayscale Bitcoin Trust reported an outflow of $22.1 million. Notably, no inflow was reported for BlackRock’s iShares Bitcoin Trust and several other Bitcoin ETFs. Total net inflows across all Bitcoin ETFs now sit at $18.9 billion. Conversely, most US-based Ether (ETH) ETFs are struggling.

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    On 11th of October, Bitcoin exchange-traded funds in the U.S saw an inflow of $253.6 million, bouncing back from three consecutive days of outflows. The most substantial inflow came from the Fidelity Wise Origin Bitcoin Fund with $117.1 million. The ARK 21Shares Bitcoin ETF came in second, drawing in $97.6 million, according to data from Farside Investors.

    Also, Bitwise Bitcoin ETF logged its most substantial inflow in 11 days, pulling in $38.8 million. Invesco Galaxy and VanEck Bitcoin ETFs also experienced inflows. On the other hand, BlackRock’s iShares Bitcoin Trust (IBIT) and Bitcoin ETFs by Franklin Templeton, Valkyrie, and WisdomTree reported a zero flow on that day. This marked the third day of high combined inflow with no contribution from BlackRock’s IBIT.

    In contrast, the Grayscale Bitcoin Trust lost another $22.1 million. Notably, the total inflow of $253.6 million more than compensated for the $140 million that left the Bitcoin ETFs between 8th and 10th October.

    This followed a 7.3% increase in Bitcoin value to a local high of $63,360 on 11th October, before it eased off to $62,530 at current prices, according to CoinGecko data. As it stands, BlackRock leads all Bitcoin ETF issuers, with a total of $21.7 billion in net inflows. Fidelity is also close to hitting the $10 billion milestone, just $15 million away. ARK 21Shares and Bitwise are the only other Bitcoin ETF issuers with over $2 billion in net inflows.

    As of now, total net inflows across all Bitcoin ETFs amount to $18.9 billion. This includes over $20 billion in outflows from the Grayscale Bitcoin Trust. Meanwhile, U.S-based Ether (ETH) ETFs seem to be struggling, with seven of the nine Ether ETFs recording a zero on 11th October. The Fidelity Ethereum Fund experienced all the inflows, with the spot Ether ETFs reporting a $0.1 million net outflow on that day. Grayscale Ethereum Trust also saw an outflow of $8.7 million.

    Source: Cointelegraph

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