Bitcoin ETFs Took In a Provisional $82.9 Million This Week…
By Abdelaziz Fathi
AI summary of the source article
U.S. spot Bitcoin ETFs drew a provisional $82.9 million for the week ending October 2, dropping roughly 97% from $2.39 billion in the preceding week. The positive performance was heavily concentrated in BlackRock's IBIT, which absorbed approximately $292 million between Monday and Thursday, offsetting net redemptions across rival funds including Fidelity's FBTC and Grayscale's GBTC. Meanwhile, spot Ether ETFs reversed sharply, posting roughly $118 million in net outflows compared to $689.8 million in inflows the prior week. Final tallies remain provisional due to delayed Friday reporting for BlackRock's funds.
Why it matters
The dramatic slowdown in ETF inflows and sharp reversal in Ether funds signal a break in institutional buying momentum, even as softer U.S. employment data reduced expectations of further Federal Reserve interest rate hikes.
Key facts
- Spot Bitcoin ETF inflows fell approximately 97% week over week from $2.39 billion to a provisional $82.9 million.
- Spot Ether ETFs flipped from $689.8 million in weekly inflows to roughly $118 million in net withdrawals.
- BlackRock's IBIT gathered around $292 million from Monday through Thursday, while the rest of the Bitcoin ETF complex experienced about $240.8 million in net redemptions.