Bitcoin ETFs Surpass $20 Billion in Inflows Despite Price Struggles

Spot Bitcoin exchange-traded funds (ETFs) in the U.S. have achieved over $20 billion in net inflows as of October 17, despite Bitcoin's price remaining stuck in a seven-month downtrend.

According to Bloomberg analyst Eric Balchunas, this figure is a significant milestone, reached after a recent surge of $1.5 billion in inflows.

Although these ETFs are performing well, Bitcoin has struggled to exceed $68,300 since June and has seen a decline since March. It took only ten months for Bitcoin ETFs to hit the $20 billion mark, while gold ETFs required about five years.

BlackRock alone account for $22 billion in inflows, but Grayscale’s outflows reach over $20 billion.

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After a brief period of outflows, Bitcoin ETFs began attracting investment again on October 11, amassing $458 million in Bitcoin by October 16. Consequently, total on-chain holdings have surpassed $65.4 billion, representing nearly 5% of the circulating supply.

Analysts suggest a potential Bitcoin rally could push prices to $92,000, as historically, October and November have shown strong returns during halving years, with October averaging over 21%.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.