Bitcoin Spot ETF Inflows Continue for 4th Day, Hitting $459 Million

Key Points:

• Bitcoin Spot ETF Inflows surged to $459 million on October 16, driven by BlackRock’s IBIT, contributing $393 million to the total inflows.
• Ethereum spot ETF also saw activity, with $24 million flowing into Ethereum ETFs on the same day.

On October 16, the Bitcoin spot ETF inflows saw $459M, marking four consecutive days of growth. BlackRock ETF added $393M. The Ethereum spot ETF also saw $24M inflows.

Bitcoin Spot ETF Inflows Surge Amid Growing Demand

Bitcoin Spot ETF inflows continued to see over the last four days, at $459 million on October 16. Of this number, BlackRock’s ETF, IBIT, accounted for $393 million, reflecting investor confidence in Bitcoin’s long-term potential, according to Sosovalue.

Read more: Bitcoin Spot ETF Inflows Hit $371M as BlackRock Leads

Ethereum Spot ETF Records $24 Million Inflows on October 16

Besides that, Ethereum spot ETFs also saw a net inflow of $24.2 million running parallel with the strong inflows into Bitcoin. This is indicative of increased interest in cryptocurrency-backed ETFs and further cements Ethereum’s position as one of the big players in the crypto ETF markets.

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William

17 October 2024, 06:15:40 GMT +0000

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.

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