Bitcoin ETFs see $254M inflow after 3-day outflow streak

Spot Bitcoin (CRYPTO:BTC) exchange-traded funds (ETFs) in the United States recorded a net inflow of $253.6 million on October 11, marking the end of three consecutive days of outflows.

This surge was led by the Fidelity Wise Origin Bitcoin Fund, which saw an inflow of $117.1 million.

ARK 21Shares Bitcoin ETF also contributed significantly, with a $97.6 million inflow, according to Farside Investors data.

Bitwise Bitcoin ETF had its largest inflow in 11 trading days, securing $38.8 million.

Meanwhile, the Invesco Galaxy and VanEck Bitcoin ETFs also saw positive inflows.

Interestingly, BlackRock’s iShares Bitcoin Trust (IBIT) recorded zero flow on that day, along with other ETFs from Franklin Templeton, Valkyrie, and WisdomTree.

Despite this, it was still the third-largest inflow day without any contribution from BlackRock’s IBIT.

The significant inflow helped cover the $140 million outflows recorded between October 8 and 10.

This occurred alongside a 7.3% rally in Bitcoin prices, which peaked at $63,360 before settling at $62,530, according to CoinGecko data.

BlackRock continues to lead all spot Bitcoin ETF issuers with $21.7 billion in total net inflows, while Fidelity is nearing the $10 billion milestone.

ARK 21Shares and Bitwise also maintain net inflows of over $2 billion each.

Meanwhile, Ethereum (CRYPTO:ETH) ETFs continue to struggle, with seven of the nine spot Ether ETFs reporting no inflows on October 11, and the Grayscale Ethereum Trust experiencing an outflow of $8.7 million.

Experts suggest that ongoing regulatory uncertainty and a lack of understanding of Ethereum’s value may be contributing to the low demand for these products.

At the time of writing, the Bitcoin price was $62,721.34.