Spot bitcoin ETFs log $477 million in positive flows amid softening gold demand

Spot bitcoin ETFs in the U.S. experienced a return to positive inflows on Tuesday, totaling $477.2 million, suggesting a potential stabilization in institutional sentiment after recent market volatility. Nine out of twelve bitcoin funds saw inflows, with BlackRock's IBIT leading at $210.9 million, followed by Ark & 21Shares' ARKB and Fidelity's FBTC. Spot Ethereum ETFs also recorded $141.6 million in inflows, led by Fidelity's FETH. This positive movement follows over $1 billion in net outflows in recent days due to U.S.-China trade tensions. Trading volumes for Bitcoin ETFs remain high, ranging from $5 billion to $9.78 billion in October, compared to $2 billion to $4 billion last month. LVRG Research's Nick Ruck attributes the volume growth to increased institutional engagement and anticipates a shift in investment from gold to crypto, noting a significant 5.9% decline in spot gold prices on Tuesday.

(Source：The Block)