The post Bitcoin ETF inflows surpass $3b, demand hits 6-month high appeared on BitcoinEthereumNews.com.

October marked a strong month for U.S. spot Bitcoin ETFs, with over $3 billion in net inflows as demand reached its highest level in six months. Over the past week, inflows into the 12 spot Bitcoin (BTC) exchange-traded funds pproached $1 billion, with four days of positive flows recorded during this period. The majority of these inflows originated from BlackRock’s IBIT, the largest ETF by net assets, which is nearing $24 billion in total inflows since its launch. Despite strong inflows in the past week, the prior week proved even more bullish for U.S. spot Bitcoin ETFs. Starting with $555.86 million on Oct. 14, the funds experienced a five-day streak of inflows totaling over $2.13 billion. This marked the first time weekly inflows into Bitcoin ETFs have exceeded $2 billion since March 2024. Following the strong inflows into the investment products over the past two weeks, the 12 Bitcoin ETFs have now surpassed over $3.07 billion in inflows in October. Weekly inflows started strong on Oct. 21, with $294.29 million entering the funds, kicking off a seven-day inflow streak. Following a brief outflow of $79.09 million on Oct. 22, inflows resumed, with three consecutive positive days ending on Oct. 25.  The week’s final trading day reached a peak of $402 million in inflows, according to SoSoValue data. None of the funds recorded outflows on Friday, Oct. 25, with BlackRock’s IBIT leading the lot once again. See below. BlackRock’s IBIT, $291.96 million, 10-day inflow streak. Fidelity’s FBTC, $56.95 million. ARK 21Shares’s ARKB, $33.37 million. VanEck’s HODL, $11.34 million. Grayscale Bitcoin Mini Trust, $5.92 million.  Bitwise’s BITB, $2.55 million. Valkyrie’s BRRR, Invesco’s BTCO, Franklin Templeton’s EZBC, WisdomTree’s BTCW, Grayscale’s GBTC, and Hashdex’s DEFI saw zero flows. Bitcoin ETF demand has hit six-month high On Oct. 25, Ki Young Ju, founder and CEO…

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Filed under: News - @ October 26, 2024 3:27 pm