Spot Bitcoin ETFs Surpass $20 Billion in Inflows as Price Hovers $67,000 Mark
2024-10-18

The spot Bitcoin exchange-traded funds (ETFs) launched earlier this year after securing approval from the U.S. Securities and Exchange Commission have surpassed $20 billion in total inflows, with BlackRock’s iShares Bitcoin Trust (IBIT) leading with $22.4 billion inflows.
According to data shared by Bloomberg’s senior ETF analyst Eric Balchunas on the microblogging platform X, these funds reached the $20 billion mark after seeing more than $1.5 billion of inflows over the past week, a week in which the price of Bitcoin roe more than 10% to near $67,000.
Balchunas’ post shows that behind IBIT came Fidelity’s FBTC with $10.2 billion inflows, followed by the ARK 21Shares Bitcoin ETF. The only spot Bitcoin ETFs seeing outflows year-to-date are the Hashdex Bitcoin ETF (DEFI) with $1.79 million outflows, and Grayscale’s GBTC with $20.1 billion in outflows.
Bitcoin ETFs have crossed $20b in total net flows (the most imp number, most difficult metric to grow in ETF world) for first time after huge week of $1.5b. For context, it took gold ETFs about 5yrs to reach same number. Total assets now $65b, also a high water mark. pic.twitter.com/edldEimfqd
These funds have in total seen their assets under management top the $65 billion mark, according to Balchunas, after seeing their inflows top $20 billion in less than a year, a figure that he says gold ETFs needed five years to reach.
Bitcoin’s price rise has seen Metaplanet, a publicly traded company on the Tokyo Stock Exchange, adjust its previously disclosed Bitcoin put options strategy, moving the strike price from $62,000 to $66,000 as the company remains optimistic about the cryptocurrency’s future price movements.
The firm’s transaction involved repurchasing 223 BTC put options with a $62,000 strike price, and selling the same number of put options at a $66,000 strike price. The firm’s nominal yield, as a result, rose by 2.65% to 13.4%.
Its new put option’s strike price would mean that if the price of Bitcoin drops below the $66,000 mark, it would be obligated to buy BTC at that price. It received a premium of 5.9095 BTC through the options strategy.
Featured image via Pixabay.