Bitcoin ETFs Break Three-Day Losing Streak with $253M Inflows

Spot Bitcoin ETFs in the U.S. witness massive inflows after three consecutive days of outflows.

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  • Spot Bitcoin ETFs have turned positive after a three-day losing streak.
  • The funds pulled hundreds of millions on Friday amid the Bitcoin price recovery.
  • WisdomTreeโ€™s BTCW posted zero flows for the 15th consecutive day.

U.S.-listed spot Bitcoin exchange-traded funds (ETFs) attracted hundreds of millions from investors on Friday, breaking their three-day losing streak.

The funds bled a combined $179.98 million between October 8 and October 10, during which the Bitcoin price plunged below $60,000 before breaking above $62,000 on Friday. CoinMarketCap data shows that as of press time, BTC had gained over 3.3% in the last 24 hours to exchange hands at $62,736.

Spot Bitcoin ETFs See $253 Million Inflows

According to SoSoValue data, spot Bitcoin ETFs in the U.S. logged a daily net inflow of $253.54 million, their highest record since September 27, when they pulled $494.27 million. The funds also saw a daily trading volume of $2.06 billion, up from $1.36 billion the previous day.

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Fidelityโ€™s FBTC led the dayโ€™s inflows with $117.1 million, followed by Ark Invest and 21Sharesโ€™ ARKB, Bitwiseโ€™s BITB, VanEckโ€™s HODL, and Invescoโ€™s BTCO, which attracted $97.58 million, $38.81 million, $14.26 million, and $7.88 million, respectively.

Grayscaleโ€™s GBTC was the only fund that bled on October 11, recording an outflow of $22.09 million. The remaining funds, including BlackRock’s IBIT, the worldโ€™s largest spot Bitcoin ETF by net assets, posted zero flows.

In contrast to spot Bitcoin ETFs, Ethereum funds in the U.S. saw a mild daily net outflow of $97,110. Fidelityโ€™s FETH was the only Ether ETF that attracted an inflow, pulling $8.61 million. This was overshadowed by Grayscaleโ€™s ETHE, which bled $8.71 million.

Stay updated on Metaplanetโ€™s latest Bitcoin acquisition:
Metaplanetโ€™s Bitcoin Bag Eclipses $46 Million After New Purchase

Read why Schiff was upset with HBOโ€™s Satoshi documentary:
Satoshi Documentary Riles up Schiff Over Commentary Snub

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Brian Danga

Brian Danga is a crypto reporter at DailyCoin covering breaking news. Brian has minor holdings in Bitcoin and Ethereum.

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