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The inflow of Bitcoin ETFs and Ethereum ETFs has continued at a strong pace. This is happening despite BTC and ETH entering a correction. BTC ETFs have gathered $5.3 billion over the last seven trading sessions.
Most of the inflows came from BlackRock’s iShares Bitcoin Trust (IBIT). This marks a strong surge in investor interest in Bitcoin. This indicates that institutional demand for crypto funds is increasing significantly.
Inflows into Spot Bitcoin ETFs Accelerate
Spot Bitcoin ETFs have recorded a massive surge in inflows, attracting $5.3 Billion over the past seven trading days. This marked a new all-time high. Notably, $2 Billion of these inflows came in just the last two days. BlackRock’s IBIT has been leading the majority of the inflow in recent days.
On Tuesday, October 7, the net inflows across spot BTC ETFs totaled $875 Million, according to data from Farisde Investors. BlackRock iShares Bitcoin Trust (IBIT) recorded net inflows of 7,401 BTC, valued at approximately $899.47 Million.
Trading activity for IBIT also surged, with daily volume reaching $5.7 Billion. According to market data, this represents the fourth-largest single-day inflow for IBIT since its inception.
BlackRock IBIT is also approaching $100 billion in assets under management (AUM). This makes it the fastest ETF to reach this milestone in under 450 days since its launch. Furthermore, IBIT’s total BTC holdings have now reached close to 800,000 coins.
Bitcoin ETFs Could See Record Inflows in Q4, Says Bitwise
Crypto asset manager Bitwise stated that spot Bitcoin ETFs in the US could see record inflows during the fourth quarter. In the debut year of 2024, these investment products saw $36 billion in inflows.
Bitwise Chief Investment Officer Matt Hougan believes that this time, the ETFs will cross this number. So far, the products have accumulated around $22.5 Billion, putting them on track for roughly $30 Billion by year-end.
In a client memo on Tuesday, Hougan expressed optimism about Q4 performance. He believes it could lead to new all-time highs for Bitcoin ETFs.
Hougan cited three major catalysts behind his outlook. The first reason is the current BTC price rally, which has reached all-time highs of $126,000.
Bitwise noted that historical trends support this view. This suggests that higher ETF inflows often coincide with substantial gains in BTC. The second reason Bitwise believes could be the wealth manager approvals for these Bitcoin investment products.
The “debasement trade” narrative is gaining momentum. Bitcoin and Gold are attracting more interest as the US Dollar weakens. Commenting on the ‘Uptober’ rally and a strong start to Q4, Hougan said:
Ethereum ETF Join the Party
Inflows into spot Ethereum ETFs have also gained momentum over the past week. Over the last seven trading sessions, net inflows across all US Ether ETF issuers have totaled $2 Billion. This highlights robust institutional demand for the Ethereum investment product.
On Tuesday, October 7, the net inflows across US Ether ETF issuers surged to $420 Million. BlackRock iShares Ethereum Trust (ETHA) alone contributed to $437 Million in inflows.
BlackRock’s iShares Ethereum Trust (ETHA) recorded strong investor demand, posting net inflows of 97,695 ETH in yesterday’s trading session. The fund also saw a trading volume of $2.7 Billion, marking its third-highest daily volume since launch.
With the latest inflows, BlackRock’s total Ethereum holdings have surpassed 4 million ETH. This underscores growing institutional interest in the asset. The move also represents the ETF’s seventh-highest inflow day since inception.
