Blackrock Drives $305M Bitcoin ETF Comeback With $676M Inflow - Bitcoin News
U.S. bitcoin ETFs reversed the previous week's outflow with $304.73 million in net inflows from Oct. 19 through Oct. 23, largely driven by Blackrock's IBIT.
Institutional crypto trading last week was characterized by dramatic shifts rather than steady trends. Bitcoin ETFs opened with $526.60 million on Monday, added another $23.16 million on Tuesday, and surged by $528.40 million on Wednesday. Within three sessions, more than $1 billion had entered these products.
The momentum then reversed sharply. Thursday produced a $635.49 million outflow, the largest since June 25, followed by another $137.94 million leaving on Friday. Despite this volatility, bitcoin ETFs finished the week with $304.73 million in net inflows, a significant improvement from the $228.6 million lost the previous week.
Blackrock's Dominance
Blackrock's IBIT was the standout performer, dominating weekly fund rankings with $675.96 million in net inflows. In contrast, Fidelity's FBTC lost $84.80 million, Ark & 21Shares' ARKB shed $99.64 million, and Grayscale's GBTC declined by $51.86 million.
The flow pattern says as much about conviction as the weekly total.
Ether's Continued Decline
Ether ETFs recorded approximately $220.60 million in weekly outflows, marking a fourth consecutive negative week. Monday and Tuesday saw withdrawals of $103.28 million and $26.13 million respectively, though Wednesday briefly brought $14.96 million in inflows before Thursday erased that progress with a $110.50 million exit.
The result was better than the previous week's roughly $320 million withdrawal, but the underlying trend remains weak. Positive ether sessions continue to appear without developing into sustained accumulation.
Altcoin Performance
Zcash delivered the strongest turnaround among smaller funds, attracting $41.09 million after losing $19.15 million the week before. Wednesday, Thursday and Friday produced three consecutive inflow sessions totaling almost $50 million. XRP ETFs also finished positive with about $4.26 million in net inflows.
NEAR continued to show unusual resilience, adding $5.22 million despite recording its first outflow on Tuesday. The category has repeatedly attracted capital during periods of weakness elsewhere. Meanwhile, SOL ETFs lost $17.30 million for the week, an improvement from the prior week's $25.52 million outflow.
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