US spot Bitcoin ETFs draw $528M Wednesday, three-day inflows reach $1.08B
In brief
- US spot Bitcoin ETFs drew $528 million in net inflows Wednesday, per SoSoValue data.
- Three straight inflow sessions totaled $1.08 billion, lifting October net inflows to about $461 million.
- BlackRock's IBIT led with $235 million; Fidelity's FBTC added about $213 million, per Farside.
- Two prior weeks of withdrawals, worth $228 million and $681 million, preceded the streak.
Three sessions, $1.08 billion
The streak started Monday. The funds took in $526.6 million on Monday and a much thinner $23 million on Tuesday, according to SoSoValue data cited by Cointelegraph. Wednesday's $528 million then took the three-day total to $1.08 billion, and year-to-date net inflows reached $1.34 billion.
That's a sharp turn from the past two weeks.
Bitcoin ETFs shed $228 million last week and $681 million the week before, Cointelegraph reported, so October's flows (now about $461 million net, per SoSoValue) are coming off two straight weeks of withdrawals.
BlackRock and Fidelity lead the day
BlackRock's iShares Bitcoin Trust (IBIT) led Wednesday's inflows with $235 million, according to Farside Investors data. The Fidelity Wise Origin Bitcoin Fund (FBTC) came second with around $213 million, also per Farside.
Those two issuers didn't need much help from the rest of the field on Wednesday.
Price action and the other ETFs
Bitcoin briefly rose above $84,700 on Wednesday and then fell back. CoinGecko data showed an intraday high of $84,777, with the price at $82,485 as of Cointelegraph's publication time. The report doesn't tie the price move to the fund flows, and the numbers on their own don't show which way (if either) one drove the other.
Other crypto ETFs had a quieter day. Ether ETFs recorded $15 million in net inflows after five sessions of outflows, according to Cointelegraph's report. Solana ETFs ended a 13-day outflow streak with about $585,000 in inflows, and XRP ETFs added around $709,000.
They're small numbers next to Bitcoin's $528 million. Still, it's the first inflow day for Ether ETFs after a five-session run of outflows, and Solana's 13-day outflow streak is over for now.
