Bitcoin ETFs draw $528 million as ether funds snap outflow streak

Large inflows return to bitcoin ETFs

U.S. spot bitcoin ETFs (exchange-traded funds, which track the price of bitcoin without requiring direct ownership) saw $528.4 million in net inflows on Wednesday. BlackRock's IBIT led with $235 million, followed by Fidelity's FBTC at $212.7 million.

Grayscale's and Bitwise's funds attracted a combined $51.2 million. VanEck, Morgan Stanley, Invesco, and WisdomTree reported no flows. Since launching in January 2024, these funds have seen about $58 billion in cumulative net inflows and $109.3 billion in net assets.

Ether funds break a five-day streak

U.S. spot ether ETFs returned to positive territory, taking in $14.9 million in combined net inflows after five consecutive sessions of net outflows. According to the source, Grayscale's fund led with $28.1 million, followed by Fidelity's FETH at $13 million, meaning other ether funds saw outflows totaling more than the combined gain.

Context from other reports

K33 reported that bitcoin's 28-day realized volatility had fallen to 1.2%, near its lowest level of the year, as traders awaited the Federal Reserve's Oct. 28 rate decision and the Nov. 3 U.S. midterm elections.

Glassnode reported that bitcoin's Oct. 15 drop to about $80,000 drew buyers near the cost bases of spot ETF holdings and corporate treasuries, and placed the next significant concentration of sell orders and liquidation levels between $85,000 and $87,500.

What is confirmed

• Bitcoin spot ETFs saw $528.4 million in net inflows on Wednesday, led by IBIT ($235 million) and FBTC ($212.7 million).
• Ether spot ETFs saw $14.9 million in combined net inflows, breaking a five-day outflow streak, with Grayscale leading at $28.1 million and Fidelity FETH at $13 million.
• As of the source, cumulative net inflows for bitcoin spot ETFs since January 2024 were around $58 billion with net assets of $109.3 billion.

Sources

• The Block