Bitcoin ETFs Reel in $528M as BTC Retreats from $84.7K
US spot Bitcoin ETFs drew $1.08 billion over three trading sessions to push October flows back above water.
US spot Bitcoin exchange-traded funds (ETFs) attracted $528 million in net inflows on Wednesday as Bitcoin briefly surged above $84,700 before retreating.
The funds extended their inflow streak to three sessions after attracting $23 million on Tuesday and $526.6 million on Monday, according to SoSoValue data. The three sessions drew in a combined $1.08 billion.
Wednesday’s inflows brought October’s net inflows to approximately $461 million, while year-to-date net inflows reached $1.34 billion.
According to Farside Investors data, BlackRock’s iShares Bitcoin Trust (IBIT) led Wednesday’s inflows with $235 million, followed by the Fidelity Wise Origin Bitcoin Fund (FBTC) with around $213 million.
The latest inflows followed two consecutive weeks of withdrawals, with Bitcoin ETFs shedding $228 million last week and $681 million the week before.
Bitcoin’s rally on Wednesday took it to an intraday high of $84,777 before it pulled back to $82,485 at the time of publication, according to CoinGecko.
Altcoin ETFs also recorded modest inflows. Ether ETFs stopped the bleeding with $15 million in net inflows after a five-session outflow streak. Solana ETFs snapped a 13-day outflow streak with approximately $585,000 in inflows, and XRP ETFs added around $709,000.