Key Takeaways
- • US spot Bitcoin ETFs drew net inflows of $175.7 million on October 13, led by Fidelity's FBTC at $103.1 million and BlackRock's IBIT at $65.9 million, breaking a run of redemptions.
- • The October 5 to 9 week saw $681 million in net outflows, the worst weekly withdrawal since June, with $731.2 million leaving on October 7 and 8 alone.
- • Spot Bitcoin ETFs hold $106.985 billion in net assets, or 6.38% of Bitcoin's market capitalization, with cumulative net inflows since January 2024 at $57.29 billion.
- • A hot September CPI print (3.7% year over year versus a 3.6% forecast) pushed Bitcoin down 1.98% to $81,776 and lifted the 10-year Treasury yield to 5.278%, with October Fed hike odds reported at 45% to 55%.
- • The article characterizes Tuesday's inflow as a pre-CPI positioning trade; Wednesday's flow print and any sustained outflows above $200 million are cited as the key signals for whether the trend has changed.
Summary
US spot Bitcoin ETFs recorded net inflows of $175.7 million on Tuesday, October 13, ending a damaging run of redemptions. Fidelity's FBTC led with $103.1 million, BlackRock's IBIT added $65.9 million and Morgan Stanley's MSBT contributed $6.7 million. Grayscale's GBTC recorded zero net flows. Tracker figures varied slightly: Farside Investors and Trader T put the total at $175.6 million to $175.7 million, while SoSoValue rounded to $176 million. Even with Tuesday's inflow, the five-day total remained negative at $597.6 million after a $65.4 million outflow on Monday, October 12.
The rebound followed the category's worst week since June. Spot Bitcoin ETFs lost $681 million in the week of October 5 to 9, ending three consecutive weeks of inflows. Most of the damage came on October 7 ($487.07 million outflow) and October 8 ($244.13 million outflow). FBTC led weekly withdrawals with $380 million, and ARKB posted $207 million in outflows, together accounting for 86% of the net outflow. The selling extended beyond Bitcoin: spot Bitcoin and Ether ETFs posted combined net outflows of $1.223 billion during the week, with Ether funds shedding $542 million, including $477 million from BlackRock's ETHA. Spot Solana ETFs lost $24.8 million, ending a 14-week inflow streak. The October 7 session coincided with the 10-year Treasury yield reaching 5.364%, its highest level since 2002, after the Fed raised rates to 3.75% to 4% in September.
Total net assets across Bitcoin ETFs stood at $106.985 billion, equal to 6.38% of Bitcoin's market capitalization, down from $110.77 billion on October 5 according to the article's figures for October 12 at $106.06 billion. IBIT holds roughly 62% of category assets, with net assets of $66.86 billion, cumulative inflows of $65.73 billion and a year-to-date return of -5.67%. FBTC's cumulative inflows stand at $10.62 billion, and one tracker shows year-to-date FBTC outflows of roughly $1.50 billion against IBIT inflows of about $3.58 billion. ARKB's cumulative net inflow is $1.19 billion, and MSBT's cumulative total is near $769 million after its $7.84 million weekly inflow and $6.7 million Tuesday inflow.
The timing of the rebound was ahead of the September CPI report. Consumer prices rose 3.7% year over year against a 3.6% forecast, core inflation accelerated to 2.6%, and the 10-year Treasury yield jumped to 5.278%. Bitcoin fell 1.98% to $81,776 after briefly touching $84,000 before the release, and October Fed hike odds jumped to 45% to 55% depending on the measure. The article characterizes Tuesday's inflow as a pre-CPI positioning trade rather than a trend change, and says ETF flows are likely to remain choppy until the Fed's October 28 decision. The article identifies a break of $80,345 as a level that could trigger renewed outflows and a move toward $76,800, and says sustained outflows above $200 million would confirm a broader exit.
The rebound followed the category's worst week since June. Spot Bitcoin ETFs lost $681 million in the week of October 5 to 9, ending three consecutive weeks of inflows. Most of the damage came on October 7 ($487.07 million outflow) and October 8 ($244.13 million outflow). FBTC led weekly withdrawals with $380 million, and ARKB posted $207 million in outflows, together accounting for 86% of the net outflow. The selling extended beyond Bitcoin: spot Bitcoin and Ether ETFs posted combined net outflows of $1.223 billion during the week, with Ether funds shedding $542 million, including $477 million from BlackRock's ETHA. Spot Solana ETFs lost $24.8 million, ending a 14-week inflow streak. The October 7 session coincided with the 10-year Treasury yield reaching 5.364%, its highest level since 2002, after the Fed raised rates to 3.75% to 4% in September.
Total net assets across Bitcoin ETFs stood at $106.985 billion, equal to 6.38% of Bitcoin's market capitalization, down from $110.77 billion on October 5 according to the article's figures for October 12 at $106.06 billion. IBIT holds roughly 62% of category assets, with net assets of $66.86 billion, cumulative inflows of $65.73 billion and a year-to-date return of -5.67%. FBTC's cumulative inflows stand at $10.62 billion, and one tracker shows year-to-date FBTC outflows of roughly $1.50 billion against IBIT inflows of about $3.58 billion. ARKB's cumulative net inflow is $1.19 billion, and MSBT's cumulative total is near $769 million after its $7.84 million weekly inflow and $6.7 million Tuesday inflow.
The timing of the rebound was ahead of the September CPI report. Consumer prices rose 3.7% year over year against a 3.6% forecast, core inflation accelerated to 2.6%, and the 10-year Treasury yield jumped to 5.278%. Bitcoin fell 1.98% to $81,776 after briefly touching $84,000 before the release, and October Fed hike odds jumped to 45% to 55% depending on the measure. The article characterizes Tuesday's inflow as a pre-CPI positioning trade rather than a trend change, and says ETF flows are likely to remain choppy until the Fed's October 28 decision. The article identifies a break of $80,345 as a level that could trigger renewed outflows and a move toward $76,800, and says sustained outflows above $200 million would confirm a broader exit.
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