Bitcoin ETF Inflows Top $1 Billion in Just 3 Days, BlackRock Takes the Lead
Bitcoin ETFs have seen a massive surge, with over $1B in inflows in just three days. BlackRock is leading the charge, giving institutional investors a seamless way to invest in Bitcoin.
With the crypto market gaining momentum, Bitcoin is now trading above $67,000, eyeing its all-time high of $73,777.
Spot Bitcoin ETFs in the US recorded $1.18B in net inflows over the last three trading days, pushing the total inflow to a new high of $19.73B. On Monday, October 14, alone, inflows reached an impressive $555.86M.
This surge comes as institutional interest in Bitcoin grows, reversing early October’s negative trend of $147M outflows. Last week, crypto investments hit $407 million in inflows, a sharp turnaround driven by rising interest in the upcoming U.S. elections.
BlackRock and Fidelity are spearheading this wave, attracting $760M in inflows over the past three days, according to Farside. On Tuesday, October 15, BlackRock alone brought in $288.8M.
This spike coincides with Bitcoin’s 13% price rally since Friday. Analysts from Standard Chartered suggest this momentum could push Bitcoin back to its all-time high as the U.S. election nears, with CoinShares researchers agreeing that political factors are driving the renewed interest.
BlackRock’s strong position in the Bitcoin market is no surprise. CEO Larry Fink highlighted during the company’s Q3 earnings call that its IBIT product hit $23B in market size within nine months, fueled by major investments.
However, BlackRock’s Ethereum-related products have not seen the same enthusiasm, with some facing net outflows. Robert Mitchnick, BlackRock’s head of digital assets, attributes this to Ethereum’s more complex investment narrative. Speaking at the Messari Mainnet conference, he noted, "We believe in Ethereum’s potential, but it requires more time for investors to fully understand its value."
Bitcoin continues to dominate the institutional spotlight, with ETFs leading the way.
