U.S. spot bitcoin exchange-traded funds experienced a significant influx of $526.6 million on Monday, marking the highest daily net inflow in nearly a month. This surge was primarily propelled by BlackRock’s iShares Bitcoin Trust (IBIT), which alone attracted $665.2 million—the largest single-day intake since October 7 of the previous year, as reported by SoSoValue data.
The collective performance of bitcoin funds reached a peak not seen since September 22, when they garnered $714.7 million. Meanwhile, other players faced declines: Fidelity’s FBTC saw an outflow of $83.6 million, and Grayscale’s GBTC lost $54.9 million during the same session. The remaining funds recorded no net flows, highlighting the concentrated nature of the buying activity.
Despite these gains, the recent inflows offset the previous week’s withdrawals of $228.5 million. However, for the month of October, the funds remain approximately $90.5 million in deficit, based on CoinDesk’s analysis using SoSoValue figures.
In contrast, ether-based funds witnessed a reversal, with $103.3 million in outflows over their fourth consecutive trading session. BlackRock’s ETHA was responsible for $95.4 million of these withdrawals, according to SoSoValue.
Also Read
- Australian Dollar Surges to Three-Week High on RBA Inflation Warnings
- Binance to Implement Round-the-Clock bStocks Collateral Pricing Starting Oct. 24
- October 21: Cedi sells at GHS12.25 on forex market, GHS11.61 on BoG interbank – Modern Ghana
- ZachXBT Links FreedomXMR to $20 Million in Illicit Crypto Flows, Sparking Regulatory Debate
