Total inflows for the 12 spot Bitcoin ETFs reached an impressive $470.48 million on October 17, and total inflows over the last five trading days exceeded $2.1 billion.

BlackRock's IBIT ETF pulled in $309 million on Oct. 17, leading in inflows for the third day in a row, according to SoSoValue data.

While BlackRock's IBIT ETF stood out, other major players also contributed to this wave of inflows. ARK Invest and 21Shares' ARKB ETF recorded inflows of $100.2 million, while Grayscale's GBTC ETF attracted $45.7 million.

Additionally, Fidelity's FBTC recorded an inflow of $11.96 million, while Franklin Templeton's EZBC ETF attracted $3.88 million. However, seven other spot Bitcoin ETFs recorded no inflows on October 17.

With these continued inflows, net inflows into spot Bitcoin ETFs have surpassed $20 billion, reaching $20.66 billion as of October 17.

Bloomberg ETF analyst Eric Balchunas, in an X post dated October 17, drew attention to the importance of this success and emphasized that passing the $ 20 billion level is one of the most challenging and critical benchmarks in the ETF world. He compared that milestone to a success in which it took gold ETFs about five years to reach the same level.

ETF Store president Nate Geraci shared similar views, describing this trend as a "capital hoover."

Cumulative inflows into spot Bitcoin ETFs exceeding $20 billion coincide with the price of Bitcoin rising above the $65,000 level. This was a milestone that investors had been looking forward to since the price fell below this level on September 30.

At press time, Bitcoin was trading at $67,839 and had gained 0.7% in the last 24 hours. Its price during the day ranged between $66,738 and $68,159, continuing the upward trend in the markets.

Meanwhile, Ethereum-focused ETFs also recorded positive inflows. On October 17, the nine existing spot Ethereum ETFs recorded inflows of $48.41 million, on top of the previous day's inflows of $24.22 million.

Fidelity's FETH and BlackRock's ETHA ETFs led the way, attracting inflows of $31.12 million and $23.56 million, respectively.

Other contributors included Grayscale's Ethereum Mini Trust, 21Shares' CETH, Biwise's ETHW, and Invesco's QETH, raising $5.13 million, $2.33 million, $1.49 million, and 518.64K respectively. They recorded $ entry.

Despite these recent gains, spot Ethereum ETFs have experienced a cumulative total net outflow of $481.9 million to date, reflecting the more volatile nature of the asset in the current market environment. At the time of writing, Ethereum was trading at $2,619.