On October 29, daily capital inflows into spot Bitcoin ETFs hit an impressive $870 million, marking the highest single-day peak since June 2024. This surge was largely driven by the performance of the iShares Bitcoin Trust, a prominent fund managed by BlackRock. The trading volume for this fund alone exceeded $3.3 billion, reflecting its growing traction among investors. Across the segment, total trading volume reached $4.75 billion, setting a notable benchmark for the sector.
Bloomberg Intelligence analyst Eric Balchunas attributed the spike to the FOMO (Fear of Missing Out) effect, suggesting that investor sentiment is amplifying demand. Balchunas highlighted that this level of capital flow is uncommon in spot Bitcoin ETFs, which typically see inflows during market dips rather than during bullish movements. However, recent price surges have fueled an upswing in interest, indicating that investor enthusiasm could continue to drive higher trading volumes and capital inflows.
Five other funds in the sector also displayed positive momentum, while one recorded a slight decline. In comparison, the spot Ethereum ETF segment showed a more tempered response, with a daily trading volume of $280.55 million—an increase from last week’s average but still a far cry from Bitcoin’s numbers. The overall daily capital inflow for Ethereum ETFs was $7.65 million, with only one product showing dynamic shifts in fund movement.
As demand for spot crypto ETFs strengthens, these figures underscore a potentially shifting trend in the digital asset investment landscape. Balchunas posits that if recent market activity is indeed the spark, trading volumes and capital inflows in spot Bitcoin ETFs could see continued growth in the near future.
