Key takeaways
- US spot Bitcoin ETFs recorded $526.7 million in net inflows on Oct. 19
- BlackRock's IBIT led the recovery with $665.2 million in inflows
- Bitcoin struggled to maintain upward momentum despite the strong ETF demand
US spot Bitcoin ETFs recorded a strong rebound on Monday after attracting $526.7 million in net inflows. This followed a difficult stretch of withdrawals.
According to the ETF flow data, BlackRock's iShares Bitcoin Trust (IBIT) dominated the session with $665.2 million in inflows, while Fidelity's Wise Origin Bitcoin Fund (FBTC) recorded $83.6 million in outflows.
Bitcoin ETF flows (Source: Farside Investors)
The recovery followed net withdrawals of $82.4 million on Oct. 16 and $261.4 million on Oct. 14, which suggests that institutional appetite for Bitcoin exposure may be recovering after a volatile trading period.
Grayscale's GBTC experienced $54.9 million in withdrawals, which means that BlackRock was the only fund to register positive flows during the session.
Bitcoin Price Struggles Despite Strong ETF Inflows
Despite the impressive ETF inflows, Bitcoin's price action remained relatively subdued. BTC climbed to approximately $83,117 during Monday's session before surrendering its gains and closing near $81,924. By Tuesday, the crypto was trading around $81,564 due to continued volatility and uncertainty among traders.
The contrasting movements suggest that the new ETF demand has not yet translated into sustained upward momentum for Bitcoin.
Nevertheless, the latest inflows offer an encouraging sign for investors after several sessions of institutional selling. Whether Bitcoin can reclaim the $83,000 level and establish a more convincing recovery could depend on continued ETF demand and overall market sentiment.
For now, BlackRock's substantial purchases helped reverse the recent ETF outflow trend, although Bitcoin's price remains under pressure.
