Bitcoin ETFs draw $528 million as ether funds snap five-day outflow streak
U.S. spot bitcoin (BTC) exchange-traded funds saw inflows totaling $528.4 million on Wednesday, with funds managed by BlackRock and Fidelity accounting for the lion's share of the total, according to data compiled by The Block.BlackRock's IBIT led the day with $235 million in net inflows, followed by the Fidelity's FBTC at $212.7 million. Grayscale's and Bitwise's funds attracted a combined $51.2 million, while funds managed by VanEck, Morgan Stanley, Invesco, and WisdomTree reported no flows.Since their inception in January 2024, the funds have seen around $58 billion in cumulative net inflows, with net assets totaling $109.3 billion, per SoSoValue.Notably, the spot bitcoin ETFs have attracted over $1 billion in three sessions this week despite the asset remaining in a prolonged period of subdued trading. K33 reported Tuesday that bitcoin's 28-day realized volatility had fallen to 1.2%, near its lowest level this year, as traders awaited the Federal Reserve's Oct. 28 rate decision and the Nov. 3 U.S. midterm elections.Separately, Glassnode said bitcoin's Oct. 15 drop to about $80,000 drew buyers near the cost bases of spot ETF holdings and corporate treasuries. The research firm placed the next significant concentration of sell orders and liquidation levels between $85,000 and $87,500.Bitcoin traded above $81,900 early Thursday, down 1.5% over 24 hours, according to The Block's BTC price page.Meanwhile, Ethereum (ETH) ETFs also returned to positive territory, taking in $14.9 million in combined net inflows after five consecutive sessions of net outflows. Grayscale's fund led with $28.1 million, followed by Fidelity's FETH at $13 million.