Key Points
- Bitcoin ETFs saw continuous inflows this week, totaling over $1.38 billion.
- BTC price holds above $67,000.
The US-based Bitcoin ETFs recorded their 4th consecutive inflow day since the past week, totaling more than $1.38 billion this week alone, according to data from SoSoValue.
On October 16, BTC ETFs saw more than $458.5 million in inflows, with BlackRock's BTC ETF, IBIT, leading the numbers.
BTC ETFs Inflows Between October 14 - October 16
Yesterday, BTC ETFs saw their third consecutive inflow day this week. Here are the influxes in the crypto products:
- BlackRock's Bitcoin ETF, IBIT, saw the most inflows at $393.4 million.
- Fidelity's Bitcoin ETF, FBTC, recorded $14.81 million in inflows.
- Bitwise's Bitcoin ETF, BITB, recorded $12.93 million in influxes.
- Franklin Templeton's Bitcoin ETF, EZBC, saw almost $11.8 million in inflows.
- Ark Invest and 21Shares' Bitcoin ETF, ARKB, recorded over $11.5 million in inflows.
- Invesco's Bitcoin ETF, BTCO, recorded over $6.4 million in inflows.
- VanEck's Bitcoin ETF, HODL, recorded $5.75 million in inflows.
- Valkyrie's Bitcoin ETF, BRRR, saw $1.92 million in inflows.
The other crypto products did not see any inflows or outflows the other day.
The total net assets in Bitcoin ETFs as of October 16 were $64.46 billion as of October 16, and the cumulative net inflow in the crypto products was $20.19 billion.
The US-based BTC ETFs began their inflow streak on October 11, when they recorded over $253.5 million in inflows.
The biggest recent inflow day was at the beginning of this week, on October 14, when the crypto products saw almost $556 million in inflows, the most significant amount since June, according to SoSoValue data.
BlackRock's IBIT Leads in BTC ETF Inflows
This week alone, BlackRock's Bitcoin ETF, IBIT, recorded almost $762 million in inflows.
The total net assets locked in IBIT were over $25.8 billion as of October 16, and the cumulative net inflow in the crypto product was $22.46 billion.
BlackRock has been constantly buying BTC, regardless of the coin's price moves since their crypto product IBIT launched back in January 2024, with only 5 days of outflows so far, on May 1, August 29, September 9, October 2, and October 10.
Bitcoin's price kicked off a rally following a dip on October 10 when the digital asset's price dropped below $59,000.
BTC Price Holds Above $67,000
At the moment of writing this article, BTC is trading above $67,000, up by about 0.5% in the past 24 hours.
Yesterday, at one point, the coin's price topped $68,000 for the first time since July 29.
BTC's price spike coincided with the rising odds of Donald Trump winning the US elections, surpassing 60% on Polymarket the other day.
Bernstein analysts have recently highlighted the correlation between Bitcoin's October surge and Trump's rising chances of winning.
