The post Spot Bitcoin ETFs see four straight days of inflows, surpassing $1.6b, Ether ETFs rebound appeared on BitcoinEthereumNews.com.

Spot Bitcoin ETFs in the U.S. marked their fourth straight day of net inflows, while spot Ether ETFs reversed course, moving back into net positive flows. Data from SoSoValue shows that the 12 spot Bitcoin ETFs recorded net inflows of $458.54 million on Oct. 16, marking the fourth consecutive day of positive inflows. Over this period, the funds have accumulated more than $1.63 billion. BlackRock’s IBIT, the largest Bitcoin ETF by assets under management, continues to dominate, posting the highest net inflow for the second straight day. On Oct. 16, IBIT recorded an impressive $393.4 million inflows, its largest single-day gain since July 22. Since its launch, the fund has amassed $22.46 billion in cumulative net inflows. Other major players also contributed to the surge in inflows. Fidelity’s FBTC attracted $14.81 million, Bitwise’s BITB secured $12.93 million, Franklin Templeton’s EZBC saw $11.79 million, and Ark 21Shares’ ARKB recorded $11.51 million in inflows. Invesco Galaxy’s BTCO, VanEck’s HODL, and Valkyrie’s BRRR brought in $6.43 million, $5.75 million, and $1.92 million, respectively. The remaining spot Bitcoin ETFs, including Grayscale’s GBTC, saw no activity. Notably, since its inception, Grayscale’s GBTC has experienced a cumulative net outflow of $20.14 billion. The crypto asset manager is now preparing to take a bold step by attempting to launch the first ETF that holds multiple cryptocurrencies, including Bitcoin, Ether, Solana, and XRP. According to Bloomberg analyst Eric Balchunas, the company aims to convert its Grayscale Digital Large Cap Fund (GDLC) into this mixed crypto ETF. Given that Bitcoin and Ether comprise over 90% of the holdings, he believes there is a chance of approval despite concerns over the smaller portions of illiquid assets. If successful, Grayscale could position itself ahead of competitors in the race for a diversified crypto ETF. Meanwhile, the total net inflows into U.S.…

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Filed under: News - @ October 17, 2024 7:21 am