Despite BTC dropping below 67000 the inflow volume of spot Bitcoin ETF remains at 294 million

Coin World Report:
Source: Niu Guolu Yao


On October 22nd, despite the Bitcoin price falling below $67,000, the net inflow of spot Bitcoin exchange-traded funds (ETFs) reached $294.29 million.
On October 22nd, the Bitcoin price dropped by 3.25%, from a high of $69,227 to a low of $66,975. This decline led to over $167 million in long liquidations in the entire crypto market, with Bitcoin alone accounting for $40.53 million in liquidations, second only to Ethereum, which had $55.90 million in long liquidations.
At the time of writing, the trading price of Bitcoin is approximately $67,617, a decrease of 1.5% in the past 24 hours.
The decline in Bitcoin price has not weakened investors’ confidence in spot Bitcoin ETFs. Currently, spot Bitcoin ETFs have seen continuous inflows for seven consecutive days. Last week, the total inflow of US spot Bitcoin ETFs exceeded $2.1 billion, and this trend continued at the beginning of this week with an inflow of $294.29 million.
On October 21st, IBIT under BlackRock attracted $329.03 million, leading the way. The IBIT fund quickly became a favored investment tool for investors seeking to invest in Bitcoin, accumulating over $1 billion in net inflows just last week, accounting for half of the inflows of US spot Bitcoin ETFs.
Eric Balchunas, an ETF analyst at Bloomberg, stated that the strong performance of the fund has made its year-to-date inflows surpass Vanguard Group’s total stock market ETF, ranking third.
Fidelity’s FBTC also reported gains, with a capital inflow of approximately $5.9 million on Monday. However, not all ETFs have been successful. The total redemptions of competing funds such as Bitwise’s BITB, ARK and 21Shares’ ARKB, VanEck’s HODL, and Grayscale’s GBTC exceeded $40 million, while other ETFs did not see any capital inflows.
Ether ETFs face capital outflows due to market downturn
While Bitcoin ETFs have seen strong capital inflows, Ethereum-based ETFs face a different situation.
On October 21st, the Ethereum spot ETF recorded a net outflow of $20.80 million, ending three consecutive days of inflows. Grayscale’s ETHE led the outflow market, with outflows reaching $29.58 million.
BlackRock’s ETHA and VanEck’s ETHV successfully offset some of the capital outflows, with inflows of $4.86 million and $3.92 million, respectively. However, the remaining spot Ethereum ETFs had no activity on that day.
At the time of writing, the trading price of Ethereum is $2,654, a decrease of 2.5% in the past 24 hours.