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Bitcoin ETFs gain $479M as BlackRock BTC holdings cross 400,000

Bitcoin ETFs gain $479M as BlackRock BTC holdings cross 400,000

GrafaGrafa2024/10/30 13:37
By:Mahathir Bayena

Bitcoin (CRYPTO:BTC) exchange-traded funds (ETFs) experienced a strong surge in inflows on Monday, with 12 Bitcoin-focused funds collectively attracting $479.35 million. 

This increased their total holdings to 978,299 BTC. 

Leading the way was BlackRock’s IBIT fund, which secured $315.19 million, raising its total Bitcoin reserves to 403,725.32 BTC. 

Ark Invest and 21Shares’ ARKB fund followed with $59.78 million in inflows, while Fidelity’s FBTC fund received $44.12 million. 

Bitwise’s BITB fund added $38.67 million to its holdings, while Grayscale’s Bitcoin Mini Trust recorded $21.59 million in new investments. 

Data from CoinGlass and SosoValue indicated that these inflows brought the cumulative net total of these funds to $22.41 billion since January 11, 2024. 

In total, Bitcoin ETFs settled approximately $3 billion in trading volume on Monday, pushing their combined reserves to $68.47 billion, representing nearly 5% of Bitcoin’s market cap. 

In contrast, Ether-focused (CRYPTO:ETH) ETFs faced slight net outflows. 

The nine Ether ETFs reported $1.14 million in net outflows, despite modest gains by Fidelity’s FETH fund and BlackRock’s ETHA, which received $5.02 million and $2.28 million, respectively. 

Grayscale’s ETHE fund saw outflows of $8.44 million, contributing to the Ether ETFs’ total outflows of $505.58 million since July 2024. 

Currently, these funds hold $6.91 billion in Ether reserves, accounting for 2.28% of Ether’s total market capitalization.

At the time of reporting, the Bitcoin price was $72,201.42.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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