Key Highlights
- Bitcoin ETFs recorded $118.86 million in inflows, led by BlackRock’s IBIT with $122 million, despite Bitcoin’s price decline.
- Ether ETFs lost $201.89 million, extending their outflow streak to six trading sessions and bringing total outflows to about $408 million.
- Other crypto ETFs saw mixed flows, with XRP gaining $3.1 million, while Solana lost $3.7 million and Zcash recorded no net flows.
U.S. spot Bitcoin exchange-traded funds (ETFs) returned to net inflows on Tuesday, taking in $118.86 million (nearly $119 million) as Bitcoin funds recorded net inflows after Monday’s $90 million outflow. At the same time, Ether ETFs moved in the opposite direction, losing $201.89 million (nearly $202 million) and extending their outflow streak to six trading sessions, according to data from SosoValue (on October 7 at 18:05 UTC).
The Bitcoin inflow came as the market remained under pressure. According to data from CoinGecko (on October 7 at 18:05 UTC), Bitcoin fell from above $86,600 during Tuesday’s trading to below $84,000. At the time of reporting, BTC was trading at about $83,414, down 2.4% over the previous 24 hours. Despite the price decline, U.S. spot Bitcoin ETFs recorded net inflows.
Bitcoin ETFs see fresh demand
According to data from SosoValue (on October 7 at 18:05 UTC), BlackRock’s iShares Bitcoin Trust (IBIT) was the main driver behind the inflow. The fund attracted $122 million, more than the total net inflow recorded across all Bitcoin ETFs. Morgan Stanley’s MSBT added another $7.84 million.
These inflows were partly offset by a $10.97 million outflow from Grayscale’s Bitcoin Mini Trust. Trading across Bitcoin ETFs reached $1.84 billion on Tuesday, while their combined net assets stood at $110.68 billion. The figures show that most of the fresh inflows were concentrated in a few large funds, with IBIT taking the biggest share.
Profit-taking adds pressure on Bitcoin
The Bitcoin ETF inflows also came as some investors were taking profits following the recent price recovery.
CryptoQuant contributor MorenoDV said Bitcoin was facing increased profit-taking because its price remained well above the estimated $68,900 cost basis of active traders. He said the next part of the recovery would depend on whether new demand could absorb the selling.
MorenoDV also pointed to a change in the Binance Squeeze Risk Oscillator. The indicator moved back above +0.80 after previously returning toward its neutral level. According to his analysis, this showed that a short-exhaustion signal had returned. However, he stressed that the reading alone does not prove that a short squeeze is already happening.
Ether ETFs extend their losing streak
Meanwhile, the picture was very different for Ether ETFs. The funds recorded about $201.89 million in net outflows on Tuesday, sharply higher than the roughly $51 million lost on Monday, according to data from SosoValue (on October 7 at 18:05 UTC). The new withdrawal brought total outflows over the six-session period to about $408 million.
BlackRock’s iShares Ethereum Trust (ETHA) accounted for the entire $201.89 million Ether ETF outflow on Tuesday. The other Ether ETFs recorded no net movement during the session, making ETHA the only fund responsible for the day’s withdrawal.
Other crypto ETFs show mixed flows
Other crypto ETFs also had mixed results on Tuesday. XRP ETFs recorded about $3.1 million in net inflows, while Solana ETFs lost around $3.7 million. Zcash ETFs recorded no net flows after seeing outflows during the previous two trading sessions, according to data from SosoValue (on October 7 at 18:05 UTC).
Tuesday’s ETF figures showed a clear split across the market. Bitcoin funds returned to positive flows after Monday’s losses, led by BlackRock’s IBIT, while Ether funds recorded another large withdrawal and extended their outflow streak to six sessions.
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