Bitcoin Spot ETF Inflows Hit $188M, BlackRock Leads at $166M

Key Points:

• Bitcoin Spot ETF Inflows hit $188M on October 24, led by BlackRock.
• Ethereum spot ETFs also reported positive inflows of $2.3M.

Bitcoin Spot ETF Inflows totaled $188M on October 24, led by BlackRock ETF IBIT with $166M. Ethereum spot ETF saw inflows of $2.3M, marking continued interest.

Bitcoin Spot ETF Inflows Surge with BlackRock Leading

The Bitcoin Spot ETF market saw a significant net inflow of $188 million on October 24, with the leading ETF from BlackRock, IBIT, adding $166 million. This flow extends a trend from October 11 and captures only one day of outflows, according to Sosovalue.

This goes to show that with Bitcoin spot ETFs likely to be used as an inflation hedge someday, institutional interest in the same is rising, and confidence in the resilience of the crypto market increases amidst the uncertainty of broader financial markets.

Read more: Bitcoin Spot ETF Inflows Reach $294M After 7 Days of Gains

Ethereum Spot ETF Also Sees Modest Growth

While this was the case for Bitcoin Spot ETFs, Ethereum Spot ETFs also posted positive movements, which came to a net inflow of $2.3001 million. The more conservative uptick suggests that investor confidence in Ethereum as an extended digital asset continues but at a slower pace.

Although Bitcoin maintains market dominance, Ethereum is still one of the leading digital assets, especially when mentioning DeFi and smart contract utilization.