On Monday, U.S. spot bitcoin exchange-traded funds (ETFs) saw a remarkable influx of $526.6 million, marking the highest daily net inflow in almost a month, with the surge primarily attributed to BlackRock’s iShares Bitcoin Trust (IBIT).
IBIT attracted $665.2 million, its largest daily inflow since October 7 of the previous year, as reported by SoSoValue data. The last time the bitcoin funds gathered more was on September 22, when they recorded an impressive $714.7 million.
In contrast, Fidelity’s FBTC experienced an outflow of $83.6 million, while Grayscale’s GBTC saw a decrease of $54.9 million during the same trading period. Other funds registered no significant inflows, highlighting the concentrated nature of the buying activity.
This influx more than compensated for the $228.5 million that was withdrawn last week; however, the funds still show a net deficit of approximately $90.5 million for October, according to calculations from CoinDesk based on SoSoValue’s data.
In a contrasting trend, Ether funds faced a downturn, losing $103.3 million for the fourth straight session. BlackRock’s ETHA was responsible for $95.4 million of those withdrawals, as indicated by SoSoValue.