United States spot Bitcoin exchange-traded funds staged a powerful recovery on Monday, hauling in $526.7 million in net inflows to mark their largest single-day intake in nearly a month. The dramatic turnaround abruptly halted a painful period of consecutive weekly withdrawals that had rattled investor confidence and placed heavy downward pressure on broader crypto market sentiment.
According to data compiled by Farside Investors, Monday’s robust inflows represented the strongest collective performance for the products since September 22, when the institutional-grade vehicles managed to attract $714.7 million in a single session. The massive capital injection effectively wiped away the lingering pessimism from the previous week and completely reversed the $82.4 million in net outflows recorded just days prior on Friday.
BlackRock’s iShares Bitcoin Trust (IBIT) served as the undisputed titan of the trading session, spearheading the market-wide gains by pulling in a staggering $665.2 million in daily inflows. Remarkably, IBIT’s individual haul exceeded the net total across the entire pool of competing US spot Bitcoin funds, underscoring the dominant market share and liquidity attraction commanded by the asset management giant’s flagship crypto product.
However, the path to Monday’s net positive balance was not without its hurdles, as substantial capital simultaneously leaked out of competing funds. The massive gains generated by BlackRock were partially offset by $83.6 million in withdrawals from Fidelity’s Wise Origin Bitcoin Fund (FBTC) and an additional $54.9 million pulled from the Grayscale Bitcoin Trust (GBTC). Meanwhile, according to Farside Investors, all other competing spot Bitcoin ETFs recorded zero net flows for the day, highlighting a concentrated movement of capital rather than a broad-based, uniform surge across every provider.
This dramatic rebound arrived directly on the heels of two consecutive weeks of painful net outflows on a weekly basis. Market participants had grown increasingly anxious as sentiment cooled over the prior fortnight. Last week alone, spot Bitcoin exchange-traded funds shed approximately $229 million in cumulative capital, following an even steeper loss of $681 million the week before that. The downward spiral included a punishing session on October 7, during which the funds suffered a staggering $483.9 million in outflows, marking their largest single-day withdrawal since June.
Despite the spectacular injection of capital witnessed on Monday, US spot Bitcoin ETFs still maintain a negative balance of about $88 million for the month of October as a whole, according to Farside’s comprehensive daily tracking figures. The residual deficit illustrates just how severe the preceding weeks of institutional capital flight and profit-taking had been, leaving the products with ground still to cover before returning to a fully positive monthly trajectory.
The stark divide in institutional appetite was further highlighted by the contrasting performance of digital asset investment vehicles tied to alternative cryptocurrencies. While Bitcoin products celebrated a major influx of capital, US spot Ether ETFs moved in the exact opposite direction, recording $103.3 million in net outflows on Monday.
The downward pressure on Ether funds was led primarily by $95.4 million in withdrawals originating from BlackRock’s own iShares Ethereum Trust (ETHA). The bleeding in the Ethereum-based products was part of a broader trend, as Ether funds shed roughly $320 million over the course of the previous week, marking their third consecutive week of net withdrawals and reflecting a more cautious or indifferent stance from institutional investors regarding Ethereum’s near-term price action compared to Bitcoin.
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
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