This increase occurred during a period when the Bitcoin price fell below $67,000. On the same day, Bitcoin lost 3.25% in value, dropping from its intraday high of $69,227 to $66,975.

This decline led to significant liquidations in the crypto market. While more than $167 million in long position liquidations took place in total, Bitcoin ranked second in these liquidations with $40.53 million. The largest long liquidation was seen on Ethereum with $55.9 million.

At the time of these events, Bitcoin was trading at around $67,500 and had lost 2.3% in the last 24 hours. However, this decline did not reduce demand for spot Bitcoin ETFs.

On the contrary, investors continued to move into this area, and spot Bitcoin ETFs recorded inflows for seven consecutive days. US-based spot Bitcoin ETFs finished last week with total inflows of over $2.1 billion. At the beginning of this week, an additional $294.29 million was received as of Monday.

BlackRock’s IBIT fund had the highest inflows on October 21, recording inflows of $329.03 million in a single day. IBIT has quickly become a preferred investment vehicle for investors seeking exposure to Bitcoin. The fund collected over $1 billion in net inflows over the past week, accounting for half of total spot Bitcoin ETF inflows in the US.

The IBIT fund’s strong performance has made it the third-leading ETF to attract inflows since the beginning of the year, surpassing Vanguard’s Total Stock Market ETF. According to Bloomberg ETF analyst Eric Balchunas, IBIT has become a major attraction for institutional investors, especially those looking to invest in crypto markets.

Fidelity’s FBTC fund also had positive results, reporting inflows of nearly $5.9 million on Monday. However, this rise was not reflected in all ETFs. Some other ETFs experienced outflows.

Bitwise’s BITB, ARK and 21Shares’ ARKB, VanEck’s HODL and Grayscale’s GBTC funds recorded a total outflow of over $40 million. Additionally, some other ETFs recorded no inflows. While this chart shows overall strong interest for Bitcoin ETFs, some funds continue to attract less interest than others.

While Bitcoin ETFs generally recorded high inflows, Ethereum-based ETFs did not achieve the same success. On October 21, spot Ethereum ETFs experienced net outflows of $20.8 million after three days of positive inflows. Grayscale’s ETHE fund led these exits, seeing fund outflows of over $29.58 million.

However, BlackRock’s ETHA and VanEck’s ETHV funds managed to offset some of the outflows experienced by Ethereum ETFs, recording inflows of $4.86 million and $3.92 million, respectively. However, there was no movement in other spot Ethereum ETFs.

During these developments, Ethereum was trading at $ 2,643 and had experienced a 3.4% decrease in the last 24 hours.

The declining interest in Ethereum ETFs has been in marked contrast to the increasing demand for Bitcoin ETFs. These volatile dynamics in crypto markets are causing investors to re-evaluate their strategies.