Crypto ETF Flows Turn Mixed on October 1 as Bitcoin…
By Karthik Subramanian
AI summary of the source article
U.S. spot crypto ETFs recorded mixed results on October 1, yielding approximately $53.1 million in combined net inflows across Bitcoin, Ether, and Solana products. Bitcoin funds rebounded with $102.7 million in net inflows after a $148.7 million outflow the day prior, driven primarily by $195.6 million entering BlackRock's iShares Bitcoin Trust (IBIT). In contrast, Ether ETFs experienced their third consecutive negative session, posting $48.5 million in net redemptions, led by withdrawals from Fidelity's FETH and Grayscale's ETHE. Solana funds moved toward stabilization with a $1.1 million net outflow, as Grayscale's GSOL inflows substantially offset Bitwise's BSOL redemptions.
Why it matters
Institutional crypto flows diverged at the start of October, with BlackRock's IBIT intake proving decisive in keeping aggregate Bitcoin flows positive amid ongoing Ether redemptions.
Key facts
- Bitcoin ETFs gained $102.7 million on October 1, led by $195.6 million of inflows into BlackRock's IBIT.
- Ether ETFs saw $48.5 million in net outflows, marking their third consecutive session of net redemptions.
- Solana ETFs approached stabilization with net outflows narrowing to $1.1 million.