HedgeCo.Net — U.S. spot bitcoin exchange-traded funds took in a net $526.7 million on October 19, according to Farside Investors data, their largest single-day inflow since September 22 and a sharp reversal from an $82.4 million outflow on October 16. SoSoValue data put the day’s net inflow at $526.6 million.
The inflow came from a single fund. BlackRock’s iShares Bitcoin Trust, IBIT, drew $665.2 million and was the only product with a positive flow on the day. Fidelity’s FBTC lost $83.6 million and Grayscale’s GBTC lost $54.9 million, while the remaining funds were flat. Spot bitcoin ETF trading volume totaled about $2.09 billion, and total net assets stood at $105.46 billion, roughly 6.4% of bitcoin’s market capitalization, according to SoSoValue.
The session pulled October’s tally close to breakeven. By Farside’s daily figures, U.S. spot bitcoin ETFs were down roughly $88 million for the month through October 19, after heavy redemptions on October 7, 8 and 14. Cumulative net inflows since the products launched in January 2024 stood at about $57.4 billion.
Ether products went the other way. U.S. spot ether ETFs lost $103.3 million on October 19, with BlackRock’s ETHA accounting for $95.4 million of the redemptions, Farside data showed, the fourth straight session of net outflows for the group. Solana funds also posted outflows. The divergence suggests the latest allocation was a targeted bitcoin trade, concentrated in the largest and most liquid fund, rather than a broad return of risk appetite across digital assets.
For allocators and hedge funds that use the ETFs for basis trades and portfolio exposure, the question is persistence. A one-day surge concentrated in IBIT after two weeks of outflows can reflect a single large buyer or the unwinding of hedged positions, so investors will watch whether inflows broaden to other issuers and whether ether fund redemptions ease in the sessions ahead.