ETF Inflows Surge with Largest Gains Since July

SUMMARY

ETPs reported a seven-day inflow of 25,675 BTC ($1.74 billion), the highest since July.
Ether ETFs logged $48.4 million in inflows on Oct. 17, marking the largest since September

Bitcoin’s resurgence is drawing noteworthy investor interest, driving outstanding inflows into exchange-traded products (ETPs) connected to the cryptocurrency. Over the past seven days, ETPs saw a net inflow of 25,675 BTC, proportionate to $1.74 billion, stamping the highest weekly count since July. These ETPs presently collectively hold 1.1 million BTC—an amount comparable to Satoshi Nakamoto’s original wallet possessions.

ETPs refer to a range of investment vehicles, including exchange-traded funds (ETFs) and exchange-traded notes (ETNs). Since Oct. 14, U.S.-listed spot bitcoin ETFs attracted roughly $1.9 billion (21,450 BTC) in net inflows, representing around 48 days of mined bitcoin supply. BlackRock’s IBIT, the biggest spot bitcoin ETF, led Thursday’s inflows with $309 million, contributing to $1.07 billion in weekly net inflows—its greatest since mid-March.

The surge in bitcoin’s value, presently just 8% below its all-time high, is fueled by optimism encompassing potential Federal Reserve rate cuts and the developing odds of a pro-crypto administration following the U.S. presidential election. Spot bitcoin ETFs have presently outperformed $20 billion in net inflows, a breakthrough accomplished in less time than gold ETFs, which took five years to reach similar levels.

Ether ETFs are moreover encountering solid demand, with a $48.4 million inflow on Oct. 17—the largest since Sept. 27. Fidelity’s FETH and BlackRock’s ETHA were the top recipients, pulling in $31.1 million and $23.6 million, separately. These funds reported $126.7 million in trading volume for the day, Although the overall sector still shows a cumulative net outflow of $481.9 million since launch.

Macroeconomic shifts are driving investor interest in alternative resources as global central banks proceed to lower interest rates. Analysts recommend that Bitcoin’s recent momentum, combined with favorable conditions, may signal further gains ahead. Be that as it may, while institutional participation increases, a maintained rally will likely require more time and market stability.