From Cointelegraph · By Ezra Reguerra
US spot Bitcoin exchange-traded funds (ETFs) recorded $526.7 million in net inflows on Monday, their largest daily intake in nearly a month, after posting net weekly withdrawals in each of the past two weeks.
According to Farside Investors, Monday’s inflows were the strongest since Sept. 22, when the funds attracted $714.7 million. Monday’s record reversed Friday’s $82.4 million in net outflows.
BlackRock’s iShares Bitcoin Trust (IBIT) led the inflows with $665.2 million, exceeding the net total across all funds. The gains were partly offset by $83.6 million in withdrawals from Fidelity’s Wise Origin Bitcoin Fund (FBTC) and $54.9 million from Grayscale Bitcoin Trust (GBTC). Other funds recorded no net flows, according to Farside.
US Spot Bitcoin ETF Flows. Source: Farside Investors
The rebound followed two weeks of net outflows on a weekly basis. Last week, spot Bitcoin ETFs shed about $229 million after losing $681 million the week before. The funds also recorded $483.9 million in outflows on Oct. 7, their largest daily withdrawal since June.
Despite Monday’s inflows, US spot Bitcoin ETFs remain about $88 million in negative territory for October, according to Farside’s daily figures.
Meanwhile, US spot Ether ETFs recorded $103.3 million in net outflows on Monday, led by $95.4 million in withdrawals from BlackRock’s iShares Ethereum Trust (ETHA). Ether funds lost about $320 million last week, marking their third consecutive week of net withdrawals.
Related: VanEck seeks to withdraw application for Lido staked Ether ETF