2.11 Billion Dollar Inflow to Spot Bitcoin ETFs
Spot Bitcoin ETFs have seen net inflows of $2.11 billion in the last five days, reflecting strong interest in the asset class.
According to SoSo Value data, these funds saw a net inflow of $470.48 million on 17 October alone.
Total inflows of the funds reached $20.66 billion.
BlackRock Leads in terms of Inflows
BlackRock’s Bitcoin ETF (IBIT), traded on NASDAQ, saw a net inflow of $309 million on 17 October, making it one of the largest daily inflows among Bitcoin ETFs.
BlackRock ETF, with total net assets of $ 25.79 billion, continues to be one of the important names in the Bitcoin ETF space.
Grayscale Bitcoin Trust (GBTC) saw a net inflow of $ 45.7 million on the same day, while recording a total outflow of $ 20.10 billion.
Fidelity’s Bitcoin ETF (FBTC) listed on CBOE recorded a net inflow of $ 11.69 million, bringing its total net assets to $ 10.29 billion.
Similarly, Ethereum ETFs recorded a daily net inflow of $ 48.41 million, showing that investors’ interest in the asset has increased.
BlackRock’s Ethereum ETF (ETHA), traded on NASDAQ, recorded a net inflow of $ 23.56 million.
NYSE-listed Grayscale Ethereum Trust (ETHE) saw a small but significant inflow of $5.13 million, bringing its total assets to $1.02 billion.
Fidelity’s Ethereum ETF (FETH), listed on CBOE, attracted a net inflow of $ 31.12 million, bringing its total inflows to $ 498.02 million.
Despite all these inflows, the total net inflows of Ethereum ETFs remained negative at $ -481.9 million.
Grayscale’s ETHE recorded a net outflow of $ 15.74 million on 17 October.
However, the total net assets of Ethereum ETFs reached $ 7.18 billion. This corresponds to 2.30% of Ethereum’s total market capitalisation.
About Half of US Investors Plan to Invest in Crypto ETFs
A recent survey by financial services giant Charles Schwab revealed that US investors are increasingly interested in crypto ETFs.
The survey revealed that 45% of respondents plan to invest in crypto through ETFs in the coming year. This rate was 38% last year.
Interest in crypto is higher than interest in both bonds and alternative assets, and only US stocks have a higher proportion. 55% of the survey’s participants stated that they plan to invest in equities.
Millennial ETF investors are even more interested in crypto. While 62% of millennial respondents plan to invest in crypto, 48% plan to invest in assets such as US stocks, 47% in bonds and 46% in commodities.
In contrast, ETF investors of the baby boomer generation show significantly less interest in digital assets. Only 15 per cent plan to invest in crypto.
Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, commented, ‘It is extremely striking’ about the top ranking of cryptocurrencies among investment plans.
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