ETFs are making a strong comeback. For the past week, Bitcoin seems determined to make a solid return to an upward trend. A dynamic that has allowed it to return to the $68,000 level. This is an opportunity for the US spot Bitcoin ETF market to resume inflows. And once again, BlackRock's IBIT fund is leading the way, with more than $1 billion in positive flows over the last few days. A record amount that had not been reached since mid-March.

Bitcoin Spot ETF: $1.85 Billion in Cumulative Inflows

After a clearly sluggish start, Bitcoin seems determined to fulfill the historic promises of the month of Uptober. Because, since October 11, its price has triggered a series of almost perfect green candles to bring it once again to the gates of $70,000.

A situation that obviously benefits the very young Bitcoin spot ETF market. The latter have been at the origin of a central positioning of the United States on the cryptocurrency market since their historic approval last January.

Indeed, positive flows have returned in recent days for all funds registered in this race. With a cumulative total of inflows estimated at $1.85 billion since the beginning of the week. And an overall valuation that currently stands at $20.7 billion.

BlackRock's IBIT fund absorbs (almost) everything

A race in which not all participants obtain the same result. Just look at how BlackRock's IBIT fund alone absorbs almost 60% of the entries recorded in this period. With a total of 1.07 billion dollars that leaves the competition far behind.

Positive flows that confirm a clear resurgence of investor interest in BTC. Because this amount represents a new local peak that had not been reached since mid-March, at the time of the last ATH recorded by Bitcoin.

An identical situation, all things considered, for the much less popular spot Ethereum ETF market. Indeed, cumulative inflows on the day of October 17th recorded an amount close to $50 million. This represents the largest positive flow since September 27th. Should we see this as a sign of recovery for the ETH cryptocurrency? Nothing is less certain