US-based spot Bitcoin ETFs reached a significant milestone with a total of $21 billion in net inflows on Friday. This week, these ETFs collectively attracted over $2 billion, marking their sixth consecutive day of gains.
Yesterday alone, spot Bitcoin ETFs, excluding Valkyrie’s BRRR, saw around $273 million in net purchases. Among them, ARK Invest’s ARKB led the group with nearly $110 million in inflows.
BlackRock’s IBIT also experienced strong growth, attracting over $70 million in net inflows on Friday. This was followed by VanEck’s HODL, Bitwise’s BITB, Fidelity’s FBTC, and Invesco’s BTCO.
The top performers for the week were IBIT and ARKB, with ARKB seeing a surge in inflows exceeding $100 million on both Thursday and Friday. Meanwhile, IBIT accounted for half of the total group inflows, pushing its net inflows past $23 billion as of October 18.
This positive performance marked the first week without any negative inflows for Bitcoin ETFs. Even Grayscale’s GBTC, known for historical outflows, reversed the trend with over $91 million in net inflows.
In other news, the SEC recently approved proposals from NYSE and CBOE to list options for spot Bitcoin ETFs. While the exact launch date is pending, experts believe this approval will expand market access to crypto-related financial products on major US exchanges.
Nate Geraci, president of the ETF Store, emphasized that options trading on spot Bitcoin ETFs will deepen liquidity and attract more players, especially institutional investors, to the market. This move is expected to make the entire spot Bitcoin ETF ecosystem more robust.
Overall, options trading is seen as important for institutional investors looking to hedge and implement complex strategies, particularly with a volatile asset like Bitcoin. Retail investors are also eager to access options trading for similar reasons, signaling broader market interest and participation.