U.S. Bitcoin ETFs Record $235M Net Inflows Over Two Days as Investor Interest Rises
U.S. spot Bitcoin exchange-traded funds (ETFs) witnessed net inflows of $235.19 million on Monday, extending their positive streak to two days, according to data from SoSoValue. Among the 12 tracked ETFs, Fidelity's FBTC led the charge, recording $103.68 million in new inflows.
BlackRock’s IBIT, the largest spot Bitcoin ETF by assets, saw $97.88 million in net inflows, rebounding from zero reported flows the previous Friday. Other notable funds included Bitwise's BITB, which recorded $13.09 million in inflows, and Ark & 21Shares' ARKB with $12.63 million.
VanEck’s HODL ETF saw $5.37 million in inflows, while Invesco’s BTCO added $2.53 million. However, Grayscale's GBTC, the second-largest Bitcoin ETF, along with six other ETFs, reported no inflows on Monday.
Overall, the total trading volume across the 12 Bitcoin ETFs reached $1.22 billion, showing a steady rise from $1.19 billion on Friday and $1.13 billion on Thursday.
Ethereum ETFs and Broader Market Trends
In contrast, U.S. spot Ethereum ETFs saw no inflows on Monday after recording $7.39 million in inflows on Friday and $3.2 million in outflows the previous Thursday. Trading volumes for Ethereum ETFs dropped to $118.43 million from $148.01 million on Friday.
Meanwhile, Bitcoin's price dipped by 1.4% to $62,757, and Ethereum declined by 2.09% to $2,442.
Digital Asset Outflows and Market Sentiment
In the broader digital asset market, investment products saw $147 million in outflows last week, reflecting increased investor caution amid strong economic data, which has dampened hopes for interest rate cuts. Bitcoin products saw outflows of $159 million, while short Bitcoin products recorded modest inflows of $2.8 million, indicating hedging activity. Ethereum also faced outflows, totaling $29 million.
On a positive note, multi-asset investment products continued to draw investor interest, attracting $29 million in inflows, marking their 16th consecutive week of positive performance. Since June, these products have brought in $431 million, accounting for 10% of assets under management.
Despite volatility in the broader crypto market, Bitcoin is stabilizing near $60,000, supported by strong non-farm payroll (NFP) data and renewed interest driven by an upcoming HBO documentary on Bitcoin. The positive sentiment surrounding the “Uptober” narrative has been reinforced by options flows that suggest an optimistic outlook for Bitcoin's price in the fourth quarter, with particular interest in December call spreads targeting $75,000 and $95,000 levels.
