Bitcoin ETFs Attract $528 Million as BlackRock and Fidelity Lead Institutional Inflows

What to Know

U.S. spot Bitcoin exchange-traded funds recorded $528.4 million in net inflows Wednesday, pushing weekly investments beyond $1 billion. The increase came despite Bitcoin’s declining price and subdued trading activity across the cryptocurrency market.

According to market data, BlackRock and Fidelity dominated Wednesday’s inflows, collectively attracting $447.7 million from investors. Their combined investments represented approximately 85% of the total capital entering U.S. spot Bitcoin ETFs.

BlackRock’s iShares Bitcoin Trust (IBIT) led with $235 million, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) attracted $212.7 million. Meanwhile, Grayscale and Bitwise collectively received $51.2 million, contributing to the positive daily total. Funds managed by VanEck, Morgan Stanley, Invesco, and WisdomTree recorded no net flows during Wednesday’s trading session.

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Bitcoin ETF Assets Reach $109.3 Billion Despite Weak Market Conditions

The latest inflows pushed weekly Bitcoin ETF investments beyond $1 billion across three trading sessions, despite limited price movement. Since their January 2024 launch, U.S. spot Bitcoin ETFs have accumulated approximately $58 billion in cumulative net inflows. SoSoValue data also places their combined net assets at $109.3 billion, reflecting substantial investments across regulated Bitcoin products.

Meanwhile, Bitcoin’s market volatility remained unusually low despite the growing capital allocations through exchange-traded funds. Research firm K33 reported that Bitcoin’s 28-day realized volatility declined to 1.2%, approaching its lowest level this year. Investors also awaited the Federal Reserve’s October 28 interest rate decision and the November 3 U.S. midterm elections.

Separately, Glassnode identified renewed buying activity around $80,000 following Bitcoin’s October 15 decline toward that level. The research firm linked buying interest to acquisition prices associated with ETF holdings and corporate Bitcoin treasuries.

Glassnode identified another concentration of selling orders and liquidation levels between $85,000 and $87,500. Bitcoin traded above $81,900 early Thursday, declining 1.5% over 24 hours despite substantial ETF inflows.

Ethereum ETFs Return to Positive Flows Following Five Sessions of Withdrawals

U.S. spot Ethereum ETFs also recorded $14.9 million in combined net inflows, ending five consecutive sessions of withdrawals. Grayscale attracted $28.1 million, while Fidelity’s FETH registered $13 million in additional investments during Wednesday’s session.

The positive daily total marked Ethereum ETFs’ return to net inflows following sustained withdrawals across previous trading sessions. Overall, Bitcoin ETFs maintained stronger investor demand, with BlackRock and Fidelity accounting for most Wednesday inflows. Ethereum ETFs also returned to positive territory, reflecting renewed capital allocations across both cryptocurrency investment categories.

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