Bitcoin ETFs just saw their biggest day in a month thanks entirely to BlackRock
Fidelity's FBTC and Grayscale's GBTC saw outflows of $83.6 million and $54.9 million, respectively.
US Bitcoin exchange-traded funds (ETFs) attracted $527 million in inflows on Monday, marking the largest daily increase in nearly a month. BlackRock's IBIT was the leading contributor, with $665.2 million in inflows, followed by $83.6 million from Fidelity and $54.9 million from Grayscale. Other funds experienced no net flows. This surge reversed the $82.4 million in net outflows from the previous Friday.
The increase was fueled by a $665.2 million influx into BlackRock's iShares Bitcoin Trust (IBIT) and a $665.2 million withdrawal from Fidelity's Wise Origin Bitcoin Fund (FBTC). The inflows followed two weeks of net outflows, with last week seeing a $229 million drop. Despite Monday's inflows, US spot Bitcoin ETFs remain $88 million in negative territory for October, according to Farside's daily figures.
US spot Ether ETFs, however, recorded $103.3 million in net outflows on Monday, primarily due to $95.4 million in withdrawals from BlackRock's iShares Ethereum Trust (ETHA).
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- US Bitcoin ETFs draw $527M in biggest showing since September cointelegraph.com