Spot Bitcoin ETFs record largest single-day inflow in over four months

Spot Bitcoin exchange-traded funds In the United States have experienced their largest inflow in over four months, reflecting a surge of investor interest in Bitcoin as the cryptocurrency market rebounds.

Data from SoSoValue shows that on Oct. 14, net inflows across 12 Bitcoin ETFs amounted to $555.86 million, more than double the $253.54 million recorded on the previous trading day.

Among the 12 ETFs, Farside’s FBTC led with an impressive inflow of $239.25 million, marking its largest since June 4 and continuing its second consecutive inflow day. Bitwise’s BITB fund also saw strong inflows of $100.2 million, while BlackRock’s IBIT recorded $79.51 million in new investments after a brief pause in activity.

Other notable funds, including ARK Invest and 21Shares’ ARKB, registered inflows of $69.8 million, and Grayscale’s GBTC recorded its first inflow since Sept. 27, with $37.77 million entering the fund. Grayscale’s GBTC has faced challenges, however, with cumulative outflows of $20.15 billion since its launch, despite the recent positive momentum.

Smaller funds such as HODL, EZBC, BTCO, the Grayscale Bitcoin Mini Trust, and Valkyrie’s BRRR collectively contributed an additional $29.34 million in inflows.

As Bitcoin’s (BTC) price reached a two-week high on Oct. 14, climbing from $62,500 to an intraday peak of $66,500, trading volumes across Bitcoin ETFs also surged. Total volume across the 12 Bitcoin ETFs soared to $2.61 billion, reflecting renewed optimism in the market.

By press time, Bitcoin was trading at $65,268, with ETF Store President Nate Geraci describing the day as a “monster day” for spot Bitcoin ETFs.

Over the past ten months, Bitcoin ETFs have attracted a staggering $19.36 billion in net inflows, with analysts forecasting further growth.

In an Oct. 14 X post, Bloomberg senior ETF analyst Eric Balchunas compared Bitcoin ETFs to gold-based products, noting that Bitcoin funds have hit an all-time high five times since their January launch.

In contrast, gold ETFs have seen only $1.4 billion in net inflows this year, despite gold hitting record highs 30 times in 2024.

Ethereum ETFs struggle to match Bitcoin’s performance

While Bitcoin ETFs enjoyed a significant inflow day, Ethereum ETFs saw a comparatively muted response. Total net inflows for Ethereum-focused funds on Oct. 14 amounted to just $17.07 million, with BlackRock’s ETHA fund leading the pack at $14.31 million.

Fidelity’s FETH, Invesco’s QETH, and 21Shares’ CETH recorded smaller inflows of $1.31 million, $1.05 million, and $393.69K respectively, while other spot Ethereum ETFs saw no new inflows.

Despite the modest inflows, Ethereum ETF trading volumes did increase, reaching $210.4 million on Oct. 14, up from $143.54 million the day prior. Since their July launch, however, Ethereum ETFs have faced net outflows totaling $541.82 million. At the same time, Ethereum’s (ETH) price showed signs of recovery, climbing 2.8% to $2,594 at press time.