Key takeaways
- US spot Bitcoin ETFs recorded $5.1 million in net inflows on Oct. 15
- BlackRock’s IBIT led the session with $16.8 million in inflows, while GBTC and BTCO continued to see outflows
- Bitcoin rebounded above $82,000 after briefly falling below $80,000
US spot Bitcoin ETFs narrowly returned to positive territory on Oct. 15, and recorded $5.1 million in net inflows.
According to Farside Investors data, the modest recovery followed $261.4 million in net outflows on Oct. 14 and $65.4 million on Oct. 12. Despite the return to positive flows, institutional demand is still considerably weaker than earlier in the month.
Bitcoin ETF flows (Source: Farside Investors)
BlackRock's iShares Bitcoin Trust (IBIT) led the latest session with $16.8 million in inflows, while Grayscale's Bitcoin Trust (GBTC) recorded $7.6 million in withdrawals and Invesco's BTCO fund lost $4.1 million. The remaining funds reported no net movement.
Overall, the figures suggest that institutional investors are becoming more selective.
Bitcoin ETFs Struggle to Recover From Heavy Selling
The latest inflows represent a sharp turnaround from the previous session, but they rare still relatively small compared with the selling pressure seen throughout October.
On Oct. 7, spot Bitcoin ETFs recorded $484.9 million in net withdrawals, followed by another $244.1 million on Oct. 8. Although investors briefly returned on Oct. 13 with $175.7 million in inflows, the subsequent selloff erased those gains.
The latest $5.1 million inflow therefore suggests a potential stabilization rather than a decisive recovery in demand.
Bitcoin Price Rebounds Above $82,000 Despite ETF Uncertainty
Bitcoin also showed signs of recovery over the past 24 hours, and climbed back above $82,000 after briefly falling below the psychologically important $80,000 level.
At press time, BTC was trading around $82,087, after climbing by just more than 1% over the past 24 hours. The cryptocurrency fell toward $79,700 during Thursday's session before buyers stepped in.
The recovery followed a turbulent period for cryptocurrency markets, with stronger-than-expected US inflation data raising concerns about further Federal Reserve interest rate increases. However, the relatively small ETF inflows suggest that institutional investors have yet to fully embrace Bitcoin's price recovery.
