- Investments into the Bitwise Bitcoin ETF totaled $38.8 million.
- At the same time, $22.1 million was lost by the Grayscale Bitcoin Trust.
US spot Bitcoin exchange-traded funds had net inflows of $253.6 million on October 11, after a string of three trading days in which they had seen withdrawals. Farside Investors data reveals that the top two bitcoin funds in terms of net inflow were the Fidelity Wise Origin Bitcoin Fund with $117.1 million and the ARK 21Shares Bitcoin ETF with $97.6 million.
Investments into the Bitwise Bitcoin ETF totaled $38.8 million, the most it has received in eleven trading days. Similarly, Bitcoin ETFs offered by Invesco Galaxy and VanEck also experienced inflows. iShares Bitcoin Trust (IBIT) of BlackRock, Franklin Templeton, Valkyrie, and WisdomTree, all of which are Bitcoin exchange-traded funds (ETFs), had zero flow on the same day.
Grayscale Bleeding Continues
This was the third-biggest day of combined inflows while BlackRock’s IBIT was ineffective. At the same time, $22.1 million was lost by the Grayscale Bitcoin Trust. Inflows of $253.6 million more than made up for outflows of $140 million from Bitcoin ETFs during October 8th and 10th.
According to CoinGecko, it followed a 7.3% increase in Bitcoin’s price to a local high of $63,360 on October 11. And is currently trading at $63,337. Net inflows to spot Bitcoin ETFs have totaled $21.7 billion for BlackRock. With Fidelity only $15 million short of the $10 billion mark.
Out of all the spot Bitcoin ETF issuers, Bitwise and ARK 21Shares are the only two that have net inflows of $2B or more. With the Grayscale Bitcoin Trust’s outflow of nearly $20 billion, the total net inflows for all spot Bitcoin ETFs are at $18.9 billion. On October 11th, seven out of nine US-based spot Ether ETFs registered zero inflows. This is the third occurrence in the last five trading days.
Highlighted Crypto News Today:
Will Shiba Inu’s 1436% Burn Rate Surge Spark a Bullish Breakout?
