Spot Bitcoin ETF Inflows Surpass $555M

After a lackluster start to October, spot Bitcoin ETF inflows have surged again! On Monday, U.S. BTC ETFs saw inflows of $555 million, buying 8,359 bitcoins from the open market. These inflows were nearly double the amount from last Friday as U.S. stock indices continued to strengthen. Some investors believe that betting on BTC ETFs is more advantageous than betting on MicroStrategy (MSTR) because its share price is trading at a very high premium compared to its Bitcoin holdings.

The large inflows into spot Bitcoin ETFs indicate that there is a latent demand for this investment product among institutional investors. On Monday, Fidelity's FBTC led the ETF market with $239.3 million in inflows, followed by Bitwise's BITB with $100.2 million in inflows. According to Farside Investors, BlackRock's IBIT was in third place with $79.5 million in inflows.

These inflows come as BTC prices rebounded all the way to $66,000 earlier today, breaking through key resistance levels. Interestingly, yesterday's inflows into the spot Bitcoin ETF hit the highest level in more than four months since June 5, 2024, and the eighth largest daily inflow since its launch in January.

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