As per SoSoValue data, Bitcoin ETFs are picking up where they left off with day two of a renewed inflow streak, posting total net inflows of $188.11 million on Oct. 24.
Bitcoin ETF flows. Source: SoSoValue
Reaching day nine of its inflow streak, BlackRock’s iShares Bitcoin Trust (IBIT) secured $165.54 million. Since Oct. 14, IBIT has seen an absurd $1.99 billion in net inflows, raising its cumulative net inflow to $23.69 billion.
The only other gainer for the day is the Bitwise Bitcoin ETF (BITB), which netted a cool $29.63 million, raising its cumulative net inflow to $2.28 billion, ranking it fourth amongst competitors.
The Grayscale Bitcoin Trust (GBTC) was the only fund in the red, shedding a small $7.05 million in net inflows. GBTC’s cumulative net outflows now stand at $20.11 billion.
The days-long inflow streak was briefly disrupted on Oct. 22 when the ARK 21Shares Bitcoin ETF (ARKB) suffered its largest outflows yet. Shedding $134 million, it was the largest loss for the day by a wide margin.
In fact, ARKB has seen three consecutive days of outflows totaling over $150 million and has found respite today with neutral flows. Regardless, Bitcoin ETF flows have been, for a majority, exceptionally bullish throughout October.
Ethereum ETFs
According to SoSoValue, Ethereum ETFs have maintained their inflow streak, reaching day three with a total net inflow of $2.3 million on Oct. 24.
Ethereum ETF flows. Source: SoSoValue
However, just one fund was in the green, with BlackRock’s iShares Ethereum Trust (ETHA) inflows of $2.3 million. Having not seen a single day of outflows, ETHA has seen cumulative net inflows of $1.28 billion.
The second half of October began a consistent inflow era for Ethereum ETFs.
Since launching on July 23, ETH ETFs have seen 38 days of total net outflows compared to 26 days of total net inflows. From mid-August to mid-September, ETH ETFs saw their most consistent period of outflows.
This daily trend has seemingly reversed for now. However, it remains yet to be seen if ETH ETFs can achieve a weekly inflow streak. So far, ETH ETFs have seen just three weeks of net inflows against 11 weeks of net outflows.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
