US spot Bitcoin ETFs pulled in approximately $525 million in net inflows on October 21. That was the largest single-day haul for the funds in nearly a month.
Ethereum ETFs had a quieter day, adding roughly $14 million. Still, it was enough to snap a five-session run of outflows.
BlackRock and Fidelity do the heavy lifting
Two issuers drove most of the Bitcoin action. BlackRock’s IBIT took in around $235 million, while Fidelity’s FBTC added roughly $213 million.
Together, those two products account for about $448 million of the day’s total. Everyone else split the remainder.
The day caps a strong three-session stretch for Bitcoin funds. Combined inflows over that span came to around $1.07 billion to $1.08 billion.
That streak changed the October picture considerably. Earlier in the month, Bitcoin ETFs saw outflows nearing $910 million over a two-week period.
After the recent buying, cumulative net flows for October have flipped back to positive territory, sitting at approximately $460 million.
Ethereum’s small win in a rough month
On the Ethereum side, the $14 million inflow came with some notable internal movement. Grayscale’s ETH staking mini-trust posted a $28 million inflow, and Fidelity’s FETH added $13 million.
Those two products alone total $41 million, well above the net figure for the day. The arithmetic implies that other Ethereum funds saw redemptions that offset part of those gains.
The five-day outflow streak that preceded this session was costly. Ethereum ETFs saw approximately $200 million in redemptions during that run.
Ethereum funds remain down about $1.07 billion for October overall.
Inflows did not lift the price
Big money flowing into Bitcoin ETFs did not translate into a rally on the day. Bitcoin traded in a range between $81,500 and $84,800 during the session. Minor price declines were noted alongside the inflows.
Broader uncertainty appears to be weighing on price action. Traders are also positioning ahead of upcoming economic events, including Federal Reserve meetings.
How we got here
Spot Bitcoin ETFs launched in January 2024, and Ethereum ETFs followed in July 2024, providing both institutional and retail investors with regulated avenues for exposure to these digital assets without direct ownership.
Ethereum ETFs have had a harder time finding footing. Their monthly deficit of about $1.07 billion roughly matches the size of the inflows Bitcoin funds collected over three days.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.