Bitcoin ETFs Surpass $20 Billion in Net Inflows Within 10 Months

• BlackRock’s iShares Bitcoin Trust leads the ETF gain with $22.4 B in inflows.
• Bitcoin ETFs rebounds in October, surpassing $20 B in total inflows after losses.
• Grayscale saw a $20 B outflow as other issuers gained nearly $2 B in new ETF investments.

Bitcoin ETFs have seen remarkable inflows, marking an unusual gain in institutional investments. ETFs from issuers like BlackRock, Fidelity, and Ark have experienced fluctuations, with net flows hitting record levels, including a weekly surge of over $2.1 billion.

Following a decline in early October, Bitcoin ETFs still see a solid rebound, surpassing $20 billion in overall inflows. By September 30, 2024, the total inflow had reached $61.3 million. However, it took a downturn, decreasing to $242.6 million on October 1, 2024, and then to $64.4 million on October 2, 2024.

However, the ETF market recovered quickly. By October 11, 2024, inflows were back up to $253.6 million and continued to climb, reaching $555.9 million on October 14, 2024, before dipping slightly to $470.5 million on October 17, 2024.

BlackRock Leads the Bitcoin ETF Surge

BlackRock’s iShares Bitcoin Trust has become a major player in the Bitcoin ETF space, attracting the largest share of inflows. As of mid-October 2024, the iShares Bitcoin Trust has accumulated over $22.4 billion in total inflows.

Read more : Bitcoin ETFs Drive Record $1.38 Billion BTC Accumulation in Three Days

Institutional interest in Bitcoin ETFs has reached an all-time high, as Arkham Intelligence’s report shows that over $1.38 billion worth of Bitcoin was added to ETF holdings in just three days. 

Grayscale Exodus and the Rise of Other Issuers

The rise of Bitcoin ETFs coincides with outflows of $20 billion from Grayscale’s Bitcoin fund. With Grayscale clients having completed their withdrawals, other issuers are now capitalizing on fresh inflows. This week alone, nearly $2 billion has poured into various Bitcoin ETFs, demonstrating strong demand for alternatives to Grayscale’s offerings.

Moreover, Eric Balchunas, an analyst at Bloomberg ETF, noted that Bitcoin ETFs have exceeded $20 billion in net flows within 10 months. The combined value of assets in Bitcoin ETFs has reached $65 billion, marking a new record for the industry.