Key Points
- Bitcoin ETFs experience significant inflows, led by Fidelity’s FBTC and BlackRock’s IBIT.
- Ethereum ETFs see no new inflows and a decrease in trading volume on October 7th.
Despite a sluggish beginning to October for Bitcoin ETFs, there are indications of recovery.
Farside Investors reported notable inflows into BTC ETFs on October 7th, totaling $235.2 million, marking two days of positive capital movement.
Fidelity’s FBTC ETF Takes the Lead
Fidelity’s FBTC ETF led the influx, attracting $103.7 million.
BlackRock’s IBIT, the largest Bitcoin ETF by assets, also experienced a strong inflow of $97.9 million, bouncing back from zero activity on October 4th.
Other ETFs such as Bitwise’s BITB, Ark and 21Shares’ ARKB, VanEck’s HODL, and Invesco’s BTCO also saw inflows.
However, Grayscale’s GBTC and six other ETFs saw no new inflows on October 7th.
Despite this, the total trading volume across all 12 ETFs reached $1.22 billion, a steady increase from previous days.
Bitcoin’s Price and Ethereum ETFs
As Bitcoin ETFs attract more investor attention, Bitcoin’s price has been struggling, currently trading around $62,497.
This coincides with a significant legal decision by the U.S. Supreme Court regarding the ownership of a large amount of Bitcoin seized from the Silk Road dark web marketplace.
In contrast to BTC ETFs, US spot Ethereum ETFs saw no activity on October 7th, following inflows and outflows in the previous days.
Additionally, trading volume across nine ETH ETFs declined.
On the price front, Ethereum was down by 1.35%, trading at $2,436, reflecting the shifting dynamics in the crypto space.
