Bitcoin ETFs in America See $527M Surge in Strongest Performance Since Late September
With $665.2 million flowing into BlackRock's IBIT, the fund single-handedly overcame exits from Grayscale and Fidelity products, as remaining ETFs saw zero net movement.
Spot Bitcoin exchange-traded funds in the United States brought in $526.7 million in net inflows during Monday's trading session, marking their most substantial single-day gain in approximately four weeks, following two consecutive weeks of net outflows.
Data from Farside Investors indicates that Monday's performance represented the most robust inflow activity observed since Sept. 22, when these investment vehicles captured $714.7 million. The Monday surge completely reversed the $82.4 million in net outflows registered on Friday.
BlackRock's iShares Bitcoin Trust (IBIT) dominated the inflow activity, capturing $665.2 million and surpassing the combined net total recorded across all competing funds. These substantial gains faced partial reduction from $83.6 million in redemptions from Fidelity's Wise Origin Bitcoin Fund (FBTC) and another $54.9 million exiting Grayscale Bitcoin Trust (GBTC). The remaining funds showed zero net flow activity, based on Farside's data.
Monday's recovery came after the funds experienced net outflows across two consecutive weeks on a weekly measurement basis. During the previous week, spot Bitcoin ETFs experienced approximately $229 million in withdrawals following a larger $681 million loss recorded in the prior week. The investment products also witnessed $483.9 million departing on Oct. 7, representing their most significant single-day exodus since June.
Even with Monday's positive inflow performance, US spot Bitcoin ETFs continue to sit approximately $88 million in the red for the month of October, based on daily tracking data provided by Farside.
In related developments, US spot Ether ETFs experienced $103.3 million in net outflows during Monday's session, primarily driven by $95.4 million in redemptions from BlackRock's iShares Ethereum Trust (ETHA). Ether-focused funds experienced roughly $320 million in losses throughout last week, representing their third straight week of net redemptions.