Bitcoin spot ETFs see $21M in net inflows on October 9
Key Summary
US spot Bitcoin ETFs recorded $21.13 million in net inflows on October 9, a small but welcome relief after a day of significant outflows. Ethereum funds, however, continued their losing streak with $56.10 million in net outflows. The day's data highlights the selectivity of investors in crypto ETFs, with Bitcoin seeing positive inflows while Ether faces continued selling pressure.
Bitcoin ETFs See Small but Positive Inflows Amid Market Turmoil
Daily Flow Data
US spot Bitcoin ETFs pulled in $21.13 million in net inflows on October 9, according to data from SoSoValue. This is a small number, but it arrived after a rough stretch.
Previous Day's Outflows
The day before, the same group of funds bled $244.1 million.
Ethereum Funds Continue to Struggle
Ethereum funds didn't share the relief. Spot Ether ETFs shed $56.10 million on the same day, their ninth consecutive session of net outflows.
Key Players
BlackRock's iShares Bitcoin Trust, ticker IBIT, did most of the work. It took in $22.38 million on its own, which is more than the entire category's net figure.
Other ETFs
VanEck's HODL added $2.33 million.
Cumulative Inflows and Outflows
Since the products launched in January 2024, cumulative net inflows have reached roughly $57.11 billion.
Market Implications
Total assets under management across the US spot Bitcoin ETFs now sit at around $105.84 billion. The cumulative inflow figure stands at about 6.38% of Bitcoin's total market capitalization.
Conclusion
The concentration of investors in Bitcoin ETFs is worth noting, with IBIT supplying more than the net total by itself. The split between the two assets is the most telling detail of the day, with investors selectively adding to Bitcoin while trimming Ether.