Key Takeaways
- • U.S. spot bitcoin ETFs drew $528.4 million in net inflows on Wednesday, according to data compiled by The Block, with BlackRock's IBIT leading at $235 million.
- • Fidelity's FBTC added $212.7 million, while Grayscale and Bitwise funds combined for $51.2 million; VanEck, Morgan Stanley, Invesco and WisdomTree reported no flows.
- • Spot bitcoin ETFs have attracted over $1 billion across three sessions this week, with cumulative net inflows since January 2024 of about $58 billion and net assets of $109.3 billion per SoSoValue.
- • Ether ETFs returned to positive territory with $14.9 million in combined net inflows, ending a five-session outflow streak; Grayscale's fund led at $28.1 million and Fidelity's FETH took $13 million.
- • Bitcoin remained subdued, with 28-day realized volatility near 1.2% per K33, as traders awaited the Federal Reserve's Oct. 28 rate decision and the Nov. 3 U.S. midterm elections.
Summary
U.S. spot bitcoin exchange-traded funds recorded net inflows totaling $528.4 million on Wednesday, according to data compiled by The Block. BlackRock's IBIT led the day with $235 million in net inflows, followed by Fidelity's FBTC at $212.7 million. Grayscale and Bitwise funds attracted a combined $51.2 million, while funds managed by VanEck, Morgan Stanley, Invesco and WisdomTree reported no flows.
Since their launch in January 2024, the spot bitcoin funds have accumulated roughly $58 billion in cumulative net inflows, with total net assets of $109.3 billion, per SoSoValue. The funds have drawn over $1 billion across three sessions this week, even as bitcoin has remained in a prolonged period of subdued trading. K33 reported on Tuesday that bitcoin's 28-day realized volatility had fallen to 1.2%, near its lowest level this year, as market participants awaited the Federal Reserve's Oct. 28 rate decision and the Nov. 3 U.S. midterm elections.
Glassnode said bitcoin's drop to about $80,000 on Oct. 15 drew buyers near the cost bases of spot ETF holdings and corporate treasuries. The research firm identified the next significant concentration of sell orders and liquidation levels between $85,000 and $87,500.
Bitcoin traded above $81,900 early Thursday, down 1.5% over 24 hours, according to The Block's BTC price page.
Ether ETFs also turned positive, taking in $14.9 million in combined net inflows after five consecutive sessions of net outflows. Grayscale's fund led with $28.1 million, followed by Fidelity's FETH at $13 million.
Since their launch in January 2024, the spot bitcoin funds have accumulated roughly $58 billion in cumulative net inflows, with total net assets of $109.3 billion, per SoSoValue. The funds have drawn over $1 billion across three sessions this week, even as bitcoin has remained in a prolonged period of subdued trading. K33 reported on Tuesday that bitcoin's 28-day realized volatility had fallen to 1.2%, near its lowest level this year, as market participants awaited the Federal Reserve's Oct. 28 rate decision and the Nov. 3 U.S. midterm elections.
Glassnode said bitcoin's drop to about $80,000 on Oct. 15 drew buyers near the cost bases of spot ETF holdings and corporate treasuries. The research firm identified the next significant concentration of sell orders and liquidation levels between $85,000 and $87,500.
Bitcoin traded above $81,900 early Thursday, down 1.5% over 24 hours, according to The Block's BTC price page.
Ether ETFs also turned positive, taking in $14.9 million in combined net inflows after five consecutive sessions of net outflows. Grayscale's fund led with $28.1 million, followed by Fidelity's FETH at $13 million.
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