BTC and ETH ETF Inflows Hit $510M in a Day

• BTC ETFs recorded $440.7M in inflows on Oct 8
• ETH ETFs followed with $69.1M in inflows
• Strong inflows hint at rising investor confidence

Bitcoin and Ethereum ETFs attracted a combined $510 million in inflows on October 8, showcasing renewed confidence in the crypto market. Bitcoin ETFs alone saw a whopping $440.7 million in capital, while Ethereum ETFs contributed $69.1 million to the total.

These figures highlight growing institutional and retail interest in crypto investment vehicles, especially as global economic uncertainties push investors toward digital assets. ETF inflows are often seen as a proxy for investor sentiment, and these numbers suggest a bullish outlook.

Bitcoin Leads the Charge with Strong Demand

The sharp $440.7 million inflow into BTC ETFs reflects a strong belief in Bitcoin’s long-term value. With the possibility of interest rate cuts and increasing inflation concerns, investors may be turning to Bitcoin as a hedge.

This surge also comes amid rising expectations around the approval of a spot Bitcoin ETF in the United States, which could drive even more institutional money into the market. BTC’s price action following these inflows will be closely watched.

Ethereum Gains Momentum Too

While Bitcoin dominated, Ethereum ETFs also attracted solid inflows of $69.1 million. This suggests growing optimism for ETH’s future, particularly with continued development in the Ethereum ecosystem, including Layer 2 solutions and staking.

With both BTC and ETH showing strength through ETF investments, the crypto market could be entering a renewed phase of accumulation and growth.