BTC ETFs Surge to a Four-Month High, Attracting Over $500M in Net Inflows

Highlights:

• BTC ETFs surged to a four-month high with over $500 million in net inflows in its October 14 data.
• ETH ETFs also witnessed net profits. However, the value was less than $20 million.
• Bitcoin and Ethereum prices sustain bullish momentum with considerable spikes in their daily price change variables.

Bitcoin (BTC) Exchange Traded Funds (ETFs) witnessed massive leaps in investors’ interest, which saw them attain a four-month inflows high. According to SosoValue, the Bitcoin commodities welcomed about $555.86 million on October 14. Interestingly, the last time Bitcoin ETFs recorded a value greater than that was earlier this year, particularly on June 4. For context, the commodities witnessed a whopping $886.75 million on the said date.

Today's $BTC ETF inflow was $555.9m. 🤌
Historically, high inflow (>$500m) tends to occur around market supply zones and mark local tops before profit taking. Conversely, high outflow (>$300m) acts a bottoming signal.

The last three times we hit >$500m inflows were:
Sep 27th… pic.twitter.com/piLGXaBcvy

— CryptoCondom (@crypto_condom) October 15, 2024

Similarly, its Ethereum (ETH) counterpart registered a gainful outing. However, as usual, the values were significantly meager relative to Bitcoin’s. Per the on-chain ETF tracker, ETH ETFs witnessed roughly $17.07 million in gains. Meanwhile, like the entire crypto market that suddenly started booming, the ETF commodities witnessed significantly heightened activities.

On October 14, the total net inflow of Bitcoin spot ETFs reached $556 million. The inflow of Fidelity ETF FBTC was $239 million, and the inflow of Bitwise ETF BITB was $100 million. The total net inflow of Ethereum spot ETF was $17.0656 million. https://t.co/59u0BnEqLG

— Wu Blockchain (@WuBlockchain) October 15, 2024

FBTC Continues its Impressive Inflows Streak

After recording over $100 million in gains on October 11, Fidelity Bitcoin ETF (FBTC) topped its most recent outing with about $239.25 million in inflows. Interestingly, aside from FBTC, nine other Bitcoin ETFs displayed market activeness, contributing only profits as none recorded losses. Meanwhile, WisdomTree Bitcoin ETF (BTCW) was the odd entity with zero flows.

Aside from FBTC, only Bitwise Bitcoin ETF (BITB) witnessed inflows above $100 million. For context, it welcomed $100.2 million in gains. Other entities that registered profits above $10 million include BlackRock Bitcoin ETF (IBIT), ARK 21Shares Bitcoin ETF (ARKB), Grayscale Bitcoin ETF (GBTC), and VanEck Bitcoin ETF (HODL). They registered profits of about $79.51 million, $69.79 million, $37.77 million, and $11.19 million, respectively.

Meanwhile, four other entities welcomed gains. However, their values were below $10 million. These commodities include Franklin Bitcoin ETF (EZBC) with $5.73 million, Invesco Bitcoin ETF (BTCO) with $4.94 million, Grayscale Mini Bitcoin ETF (BTC) with $4.68 million, and Valkyrie Bitcoin ETF (BRRR) with $2.80 million.

Following the latest flow statistics, Bitcoin ETF cumulative net inflow surged remarkably to about $19.36 billion. The total value traded increased to about $2.61 billion, while total net assets surged to about $61.89 billion. Interestingly, the total net assets now represent about 4.75% of Bitcoin’s market capitalization.

BlackRock Leads Ethereum ETFs Slight Surge

Unlike Bitcoin, Ethereum ETFs witnessed a reduced market activeness with only four active entities. However, like Bitcoin, all welcomed profits, as the remaining five witnessed zero activities. BlackRock Ethereum ETF (ETHA) was the only commodity with gains above $10 million, having welcomed inflows of about $14.31 million.

Other entities that attracted cash inflows include Fidelity Ethereum ETF (FETH), Invesco Ethereum ETF (QETH), and 21Shares Ethereum ETF (CETH). They contributed gains of approximately $1.31 million, $1.05 million, and $393.69K, respectively. Consequently, the entities’ cumulative net inflow has remained deep in losses of about $541.82 million. The total value traded was $210.4 million, while total net assets reflected $7.2 billion.

Bitcoin and Ethereum Prices Sustain Uptrends Mirroring the Booming Crypto Market

Like the crypto market that saw a 1.4% upswing in the past 24 hours, Bitcoin and Ethereum prices have recorded considerable increments in their 1-day-to-date price change variables. For context, BTC is changing hands at about $65,700, reflecting a 2.6% upswing from the previous day. On its part, Ethereum boasts roughly $2,600 in selling price, with a 3.7% spike in the past 24 hours.

In every #Bitcoin bull market year, Q4 is the period when the exponential rally starts. pic.twitter.com/QE3jankz6O

— Crypto Rover (@rovercrc) October 14, 2024