U.S. Spot Bitcoin ETFs Draw $526.6 Million Despite Price Weakness

U.S. spot Bitcoin (BTC) exchange-traded funds drew $526.6 million in net inflows on Oct. 19 despite a weak week for the cryptocurrency, with BlackRock’s fund driving the increase.

BlackRock’s iShares Bitcoin Trust (IBIT) collected $665.2 million, more than the groupwide net gain. Fidelity’s FBTC had $83.6 million in outflows, while Grayscale’s GBTC had $54.9 million in outflows.

The daily total was the largest since Sept. 22. Bitcoin had declined roughly 2% over the previous week and traded near or below $81,500.

One strong session did not reverse the month’s fund flows. Through Oct. 19, U.S. spot Bitcoin ETFs had posted roughly $90.5 million in net outflows for October.

Ether (ETH) ETFs, meanwhile, lost $103.3 million on Oct. 19, their fourth straight day of net outflows. The Bitcoin funds held roughly $105.46 billion in assets, equal to about 6.4% of Bitcoin’s market value.

Since their January 2024 launch, U.S. spot Bitcoin ETFs have accumulated more than $57.4 billion in net inflows.