Bitcoin Spot ETF Inflows Surge to $870M, Highest Since June

Key Points:

• Bitcoin spot ETF inflows reach $870M, a record since June
• BlackRock and Fidelity lead Bitcoin spot ETF inflows amid institutional interest

Bitcoin spot ETF inflows hit $870M on Oct 29, marking the highest since June. BlackRock and Fidelity ETFs saw significant inflows, driving strong investor interest.

Record-Breaking Bitcoin Spot ETF Inflows Reach $870M

Bitcoin spot ETFs also saw their largest net inflow since June on October 29, totaling $870 million. The sharp rise in net inflows underlines the strong rebound of investor interest in Bitcoin-backed ETFs. BlackRock’s IBIT was the major driver at $643 million, while the Fidelity FBTC ETF followed through with $134 million. This resurgence suggests a fresh bout of confidence in Bitcoin’s investment prospects after institutional players amplified their stakes in digital assets through structured products.

While this was the case, Ethereum spot ETFs followed suit with a more modest inflow of $7.65 million. While Bitcoin is leading in this area, Ethereum’s continued interest shows it also has a stable appeal for investors. With inflows into both BTC and ETH, it looks like more and more institutional money is finding its way into the digital asset class, and that mainstream portfolios are embracing crypto-backed financial products, according to Sosovalue.

Read more: Bitcoin Spot ETF Inflows Reach $479M, Led by BlackRock’s $315M

Institutional Interest in Bitcoin Spot ETFs Peaks with $870M Inflow

This places the ETFs, which did not exist in 2021, well in line with the Securities and Exchange Commission’s most liberal expectations. Bitcoin spot ETFs drew an astonishing $870 million on October 29, buoyed by serious contributions from both BlackRock and Fidelity. The BlackRock IBIT ETF added $643 million, reaffirming its place as an institutional investor darling. Fidelity FBTC netted $134 million, putting it in very unfamiliar territory as some of the more traditional giants take their deep dives into the world of Bitcoin-backed ETFs.

That compares with a relatively modest inflow of $7.65 million into Ethereum spot ETFs, indicating that the current interest is in Bitcoin exposure. The high inflows into BTC spot ETFs demonstrate the rising institutional confidence in the segment and might set the stage for an expanded mainstream cryptocurrency asset class. Increasing volume indicates the contribution these ETFs are making toward expanding digital asset access.