Bitcoin ETFs Rebound with $477M Inflows After $1.2B Outflow Streak

The $477.2 million inflow on October 21 represented a dramatic turnaround for US spot Bitcoin ETFs, which had suffered four consecutive sessions of redemptions totaling over $1.2 billion. This positive print marked the first net gain since October 14 and the largest single-day inflow in two weeks, trimming October’s cumulative redemptions after Bitcoin’s price had tumbled under macro pressures. The reversal came after a particularly bruising period between October 15 and 20, when daily outflows reached as high as $530 million, creating one of the steepest redemption streaks since April.

BlackRock’s IBIT led the recovery with $210.9 million in inflows, demonstrating its continued dominance in the spot Bitcoin ETF space. ARK Invest’s ARKB followed with $162.9 million, while Fidelity’s FBTC added $34.1 million. Smaller but still positive inflows appeared in Franklin Templeton’s EZBC ($8.9 million) and Invesco’s BTCO ($6.5 million). The composition showed IBIT and ARKB accounting for nearly 80% of Monday’s total inflows, reinforcing their position as sentiment leaders in the ETF cohort.

While most US Bitcoin ETF issuers enjoyed inflows, Grayscale’s GBTC continued its redemption pattern with $13.9 million in outflows. This persistent bleeding, coupled with the fund’s narrower but still-negative discount to NAV, suggests the legacy vehicle has yet to find equilibrium after converting from a trust to an ETF. The contrast between GBTC’s ongoing outflows and the strong inflows into newer competitors like IBIT and ARKB highlights the competitive dynamics reshaping the Bitcoin ETF landscape.

The rebound occurred against a backdrop of relative Bitcoin price stability, with BTC trading around $108,600 at press time after reaching $113,000 the previous day. The fact that significant ETF inflows occurred without triggering substantial price movement suggests these flows are being absorbed without disturbing spot-market liquidity. Open interest on CME futures and funding rates across major perpetual venues remained flat, showing little sign of leveraged follow-through—a pattern that often indicates quiet institutional accumulation rather than speculative trading.

The day’s flow composition provides compelling evidence that institutional allocators are rotating within the Bitcoin ETF ecosystem rather than reducing overall exposure to Bitcoin. The simultaneous inflows into newer, lower-fee products like IBIT and ARKB alongside continued outflows from GBTC suggests a strategic reallocation within the asset class. This rotation pattern indicates that institutional interest in Bitcoin remains intact, even as investors optimize their holdings across different ETF vehicles.

This bounce could represent a potential reset heading into late October, particularly as US yields ease and inflation expectations stabilize. The return of risk appetite appears to be driving ETF allocators to rebalance rather than withdraw completely. If inflows extend through mid-week, the move could mark the bottom of the latest ETF-flow cycle and establish a firmer base for Bitcoin’s next move within its current $107,000-$113,000 trading range. The relative stability following the weekend slump, combined with the absorption of ETF flows without price disruption, points to underlying market resilience.