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On October 9, 2024, Bitcoin ETFs showed strong inflows, signaling renewed investor interest after a slow start to the month. Over the past few days, inflows totaled $235 million, with Fidelity’s FBTC leading the charge at $103.7 million, followed closely by BlackRock’s IBIT, which brought in $97.9 million. Other ETFs like Bitwise’s BITB and Ark’s ARKB also saw positive movement, while some smaller funds like VanEck’s HODL and Invesco’s BTCO experienced modest gains.
This marks a significant shift after a brief period of net outflows seen earlier in the month. Bitcoin’s price, however, continues to show bearish momentum, trading around $62,497, down from a recent peak of $66,000. This price dip aligns with wider market volatility but has not dampened institutional interest in Bitcoin ETFs.
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In contrast, Ethereum ETFs have seen a pause, with no inflows or outflows recorded on the same day, reflecting more cautious sentiment towards Ethereum-related products. This divergence between Bitcoin and Ethereum ETFs highlights differing market conditions for the two leading cryptocurrencies.
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