Spot Bitcoin exchange-traded funds ended the week ended October 2 with a preliminary net inflow of about $82.9 million, a sharp slowdown from the roughly $2.39 billion they attracted during the previous five trading days. Spot Ethereum ETFs shifted from nearly $690 million of inflows in the prior week to roughly $118 million of net withdrawals, according to provisional data from Farside Investors and SoSoValue.
Bitcoin ETFs began the week with $31 million on Monday and $66.2 million on Tuesday, before $148.7 million left the funds on Wednesday, ending a nine-trading-day streak of positive flows. The category rebounded with $102.7 million on Thursday and another $31.7 million in incomplete Friday data. However, the aggregate masked concentration: BlackRock’s IBIT attracted approximately $292 million from Monday through Thursday, including $195.6 million on October 1 alone, while the rest of the Bitcoin ETF complex was a net seller by roughly $240.8 million over those four sessions. Fidelity’s FBTC lost about $167.9 million for the week, and Grayscale’s GBTC recorded $54.6 million of net redemptions.
Ether funds opened the week with $17.1 million of inflows on September 28, then posted withdrawals of $2.8 million Tuesday, $59.6 million Wednesday, $55.4 million Thursday, and $17.3 million in currently reported Friday data. BlackRock’s ETHA and ETHB Friday figures were still missing at the time of reporting, so final weekly totals could change. The outflows brought cumulative total net inflows for Ether ETFs down from a recent local peak of $13.94 billion to about $13.80 billion.
The week was also a macro test. The U.S. economy added only 29,000 nonfarm payrolls in September, unemployment rose to 4.2%, and July and August payroll figures were revised lower. CME FedWatch pricing put the probability of an October Federal Reserve rate hike at roughly 14% after the jobs data, down from about 24% before the report. Despite the more supportive rate backdrop, institutional crypto ETF demand did not immediately accelerate.
