Bitcoin ETFs Add $600M as IBIT Adds More Than Half a Billion Since October Start

As the crypto market makes its way up higher, with Bitcoin, Solana and Ethereum all up around 11% week-on-week, there seems to be renewed interest in exchange-traded funds (ETFs).

As the crypto market continues to rally, with Bitcoin, Solana and Ethereum all up around 11% week-on-week, there seems to be renewed interest in exchange-traded funds (ETFs). The past few trading days have added over US$600 million (AU$900 million) to the fund’s AUM (assets under management).

According to CryptoQuant, these funds now hold a combined US$60 billion (AU$90 billion) in AUM – that's over 900,000 BTC.

Over $600 million worth of #Bitcoin has been added to the Spot $BTC ETF holdings in the last two trading days.

The total Assets Under Management (AUM), including Grayscale, now stands at ~$60.0 billion.

(Source: CryptoQuant) pic.twitter.com/ERdUhu9stv

Of all the funds, BlackRock's IBIT has added the most Bitcoin by far. IBIT added US$288.8 million (AU$433.1 million) in the most recent trading day, bringing the monthly total to US$572 million (AU$857.7 million).

Fidelity's FBTC had the second largest inflows, with several funds having zero net inflows.

Bloomberg Senior ETF Analyst Eric Balchunas called the recent inflows ‘monster flows’, hinting that the funds may achieve the 1 million Bitcoin milestone by the end of the year.

Monster flow day for the bitcoin ETFs, over half a billion, total net flows (most imp number) hair away from $20b. They now 94% of way to holding 1mil btc and 85% away from passing Satoshi as largest holder in world- legit shot to hit milestone by Xmas. Ht @EdmondsonShaun https://t.co/XfhPuJ7Fql pic.twitter.com/0Rxy3Yn7WJ

Australia Sees Spot Ethereum Fund Launch

While Bitcoin funds are doing obviously quite well, the same can't be said for Ethereum funds. The US funds which launched in July 2024 have not had an easy start, trailing Bitcoin funds in popularity. This hasn't stopped asset managers from launching new funds though, with Monochrome recently bringing an Ether fund to Australia’s Cboe.

In an emailed statement to Crypto News Australia, Alvin Kan, COO of Bitget Wallet, commented on the launch’s significance.

Kan noted that Monochrome's spot Ether ETF mirrors Hong Kong's crypto ETFs by offering dual trading options in both cash and physical ETH, enhancing liquidity and investment flexibility.

He highlighted the supportive regulatory frameworks in Australia and Hong Kong that facilitate crypto investments through regulated markets, as well as the increasing acceptance of both crypto in general and ETH in particular:

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