Bitcoin ETFs Pull In $526.6 Million After Weak Start to the Month
BlackRock’s IBIT took in all the inflows, while Ethereum and Solana funds saw outflows instead. The demand helped push Bitcoin back above the ETFs’ average purchase price.
Key Takeaways
- US spot Bitcoin ETFs brought in $526.6 million in net inflows on Monday, their strongest day since September 22.
- BlackRock's IBIT was the only Bitcoin ETF with inflows; the other 11 spot Bitcoin ETFs stayed at zero.
- Ethereum funds lost $103.28 million and Solana products $6.72 million, while Bitcoin traded around $82,060.
US spot Bitcoin ETFs brought in $526.6 million (€469 million) in net inflows on Monday. That was their strongest day since September 22 and partly made up for the weak start to October. For Bitcoin, this came at a time when the price was around $82,060 (€73,100) and had moved back above the average purchase price of these ETFs.
IBIT Leads the Way
BlackRock's iShares Bitcoin Trust, better known as IBIT, was the only Bitcoin fund with net inflows that day. The other 11 spot Bitcoin ETFs stayed at zero or saw no inflows. That kept demand heavily concentrated in one product, while the broader group is still recovering from earlier outflows.
Monday's inflows also partly reversed the previous week. Between October 13 and 16, Bitcoin ETFs together lost another $163.18 million (€145 million). For all of October, the balance before Monday stood at a net outflow of $617.17 million (€550 million), but the new inflows cut that back to $90.57 million (€80.7 million).
Ethereum and Solana Pull Back
While Bitcoin ETFs attracted money, other crypto ETFs moved the other way. Ethereum funds lost $103.28 million (€92 million) on Monday and Solana products saw $6.72 million (€6 million) flow out. Ethereum in particular has been in a weak stretch for a while: those funds posted net outflows on 14 of the last 15 trading days, adding up to $1.12 billion (€1 billion).
That shows the rotation between the major crypto products. While Bitcoin ETFs already recovered strongly in the third quarter and, according to earlier market data, pulled in a big share of the inflows, demand for Ethereum products is still lagging for now. For European crypto followers, this shows how quickly capital can shift between the major tokens and the investment products tied to them. The recent outflows from Ethereum funds also show how sharp that rotation can be.
What This Means for Investors
The new inflows matter especially because Bitcoin has held up better than US tech stocks in recent weeks. Over the same period, the Nasdaq fell 5 percent and the semiconductor index lost more than 11 percent, while Bitcoin slipped about 2 percent and held support around $80,000 (€71,300). That makes ETF flows an even more important gauge of institutional demand for Bitcoin.
