Key Takeaways
- • U.S. spot bitcoin ETFs took in $110.34 million on Monday, October 26, with BlackRock's IBIT accounting for the entire inflow while the other eleven funds recorded no net flows.
- • The inflow ended a two-session outflow run of $773.4 million on October 22 and 23, but October flows remain about $202 million negative.
- • Total net assets stand at $102.84 billion, about 6.41% of bitcoin's market capitalization, with IBIT holding $64.80 billion (63% of the category) and cumulative net inflows since the January 2024 launch at $57.29 billion.
- • Bitcoin traded near $80,427 late Monday, up 0.37%, and failed to join an equity rally, suggesting ETF flows are following price rather than leading it.
- • Analysts argue demand has narrowed to a single buyer and turned erratic; sustained inflows broadening beyond IBIT would be needed to signal a genuine recovery.
Summary
U.S. spot bitcoin ETFs took in $110.34 million on Monday, October 26, ending a two-session run of redemptions that drained $773.4 million on Thursday and Friday, according to the source report. BlackRock's iShares Bitcoin Trust (IBIT) accounted for the entire inflow, while Fidelity's FBTC, ARK's ARKB, Bitwise's BITB and Grayscale's two products recorded no net flows.
Total trading volume across the funds reached $1.86 billion, with IBIT handling $1.38 billion, or 74% of the total. Total net assets stood at $102.84 billion, about 6.41% of bitcoin's market capitalization. IBIT held $64.80 billion of that, followed by FBTC at $14.05 billion and GBTC at $10.01 billion. Cumulative net inflows since the January 2024 launch reached $57.29 billion.
Bitcoin's price barely responded. BTC traded near $80,427 late Monday, up 0.37%, slipped briefly below $80,000 on Tuesday and recovered toward $80,700. The cryptocurrency did not join a rally that lifted the Nasdaq 1.33% and the chip index 3% on Tuesday, as AI capital-raising headlines drew speculative money toward equities.
The week of October 19 opened strongly, with $526.6 million of inflows on October 19 led by $665.2 million into IBIT, followed by about $528.4 million on October 21. The reversal came on October 22, when the funds lost $635.5 million amid a broad risk-off move that included a 2.6% Nasdaq decline, a 6.72% drop in the chip index and an oil spike. Friday's $137.94 million outflow extended the selling. Net inflows for the week ended October 23 were about $304.77 million, with IBIT posting $566 million for the week while other funds recorded net outflows.
IBIT's dominance is pronounced: it holds 63% of category assets, captured 100% of Monday's inflows, and posted net inflows of $933.1 million over the past 30 days, the most among spot bitcoin funds. Analysts cited in the report see the concentration as a risk, since a single large holder exiting IBIT can swing the entire category.
October remains in deficit at about $202 million of net outflows through Monday, after briefly turning positive during the week of October 19. Total net assets fell from $108.89 billion in early October to $102.84 billion, a decline of about 5.6%, which the report attributes mostly to bitcoin's price slide from near $86,200 rather than to outflows. Tuesday's flow figures, due after the U.S. close, will indicate whether Monday marked a recovery or a pause, ahead of a Federal Reserve decision on Wednesday and an $11 billion options expiry on Friday.
Total trading volume across the funds reached $1.86 billion, with IBIT handling $1.38 billion, or 74% of the total. Total net assets stood at $102.84 billion, about 6.41% of bitcoin's market capitalization. IBIT held $64.80 billion of that, followed by FBTC at $14.05 billion and GBTC at $10.01 billion. Cumulative net inflows since the January 2024 launch reached $57.29 billion.
Bitcoin's price barely responded. BTC traded near $80,427 late Monday, up 0.37%, slipped briefly below $80,000 on Tuesday and recovered toward $80,700. The cryptocurrency did not join a rally that lifted the Nasdaq 1.33% and the chip index 3% on Tuesday, as AI capital-raising headlines drew speculative money toward equities.
The week of October 19 opened strongly, with $526.6 million of inflows on October 19 led by $665.2 million into IBIT, followed by about $528.4 million on October 21. The reversal came on October 22, when the funds lost $635.5 million amid a broad risk-off move that included a 2.6% Nasdaq decline, a 6.72% drop in the chip index and an oil spike. Friday's $137.94 million outflow extended the selling. Net inflows for the week ended October 23 were about $304.77 million, with IBIT posting $566 million for the week while other funds recorded net outflows.
IBIT's dominance is pronounced: it holds 63% of category assets, captured 100% of Monday's inflows, and posted net inflows of $933.1 million over the past 30 days, the most among spot bitcoin funds. Analysts cited in the report see the concentration as a risk, since a single large holder exiting IBIT can swing the entire category.
October remains in deficit at about $202 million of net outflows through Monday, after briefly turning positive during the week of October 19. Total net assets fell from $108.89 billion in early October to $102.84 billion, a decline of about 5.6%, which the report attributes mostly to bitcoin's price slide from near $86,200 rather than to outflows. Tuesday's flow figures, due after the U.S. close, will indicate whether Monday marked a recovery or a pause, ahead of a Federal Reserve decision on Wednesday and an $11 billion options expiry on Friday.
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