Bitcoin ETFs surge ahead as Ether ETFs endure outflows to close the week

On-chain data on Friday showed that Bitcoin ETFs saw net inflows of $90.6 billion in a single day, with cumulative net inflows totaling $61.98 ￰0￱ ETFs didn’t record any outflows among the twelve BTC funds. On-chain data revealed that BlackRock’s iShares Bitcoin ETF (IBIT) recorded net single-day inflows of $32.68 ￰1￱ also saw a historical net inflow of $65.306 ￰2￱ ETFs surge after recent 1011 crypto crash Fidelity’s BTC ETF recorded total inflows of $57.92 ￰3￱ also saw its total net inflows reach a historical high of $12.597 ￰4￱ increase in inflows in Bitcoin ETFs corresponds with BTC’s price regaining ￰5￱ the time of publication, Bitcoin is trading at around $111,600, up more than 4.5% in the past seven ￰6￱ ETFs saw a staggering $1.23 billion of outflows within just four days, from October 13 to October ￰7￱ rapid outflows stemmed from the October 11 crypto market crash that saw BTC’s price drop from a high of $121,000 to approximately $103,000.

Ethereum ETFs have struggled, recording a total net outflow of $93.6 ￰8￱ of October 24, ETH funds have seen cumulative total net inflows of $14.35 billion. BlackRock’s Ethereum ETF saw total outflows of nearly $101 million on ￰9￱ Ethereum-based ETFs recorded inflows, marking three consecutive days of outflows. Ethereum’s price has also struggled to regain the $4,000 psychological level over the past three ￰10￱ the time of publication, ETH is trading around $3,950, up more than 1.7% in the past seven ￰11￱ timeline for Cardano ETFs stalled by ￰12￱ shutdown As BTC ETFs recorded inflows, the deadline for the Securities and Exchange Commission’s decision on three XRP ETFs and Grayscale’s Cardano ETF was set for this week.

However, the SEC didn’t make any announcement about the funds despite the deadline passing this ￰13￱ Jacobson, general counsel at Halliday, explained that the SEC has been operating at reduced capacity ever since the ￰14￱ Government shutdown on October ￰15￱ former global head of legal at 21Shares also believes that ETF approvals have been paused for the time being, but he expects a flurry of approvals once the shutdown ￰16￱ explained that fall is often the hottest season for ETFs, so things might move fast once the government is back up and ￰17￱ to the odds on the crypto betting platform Polymarket, bettors don’t expect the shutdown to end this ￰18￱ on Polymarket give a 7% chance that the shutdown will end by October ￰19￱ reported on Monday that Kevin Hassett, Director of the ￰20￱ Economic Council, stated that the shutdown could end this ￰21￱ revealed that the ￰22￱ was planning to hold its 11th vote to fund the government and end the ￰23￱ crypto market is still expecting a Cardano ETF this year, with Polymarket users pegging the odds of a Cardano ETF happening in 2025 at 77%.

Cardano and other altcoin ETFs gained interest among the crypto community in September after the SEC significantly revamped its approval rules for crypto ￰24￱ initiative reduced the approval threshold for spot crypto ETF approvals to 75 days from the usual 240 ￰25￱ SEC also streamlined and simplified the path forward for crypto ETFs, provided that the underlying digital assets already trade futures on regulated ￰26￱ changes prompted Bloomberg Intelligence ETF analyst James Seyffart to predict the approval of over 100 crypto ETFs in the next six to 12 ￰27￱ Bybit now and claim a $50 bonus in minutes