Bitcoin ETFs See Volatile Flows as BTC Rallies Over Weekend

US Bitcoin ETFs experienced a turbulent week of flows between Sept. 28 and Oct. 2, even as Bitcoin (BTC) staged a strong recovery over the weekend, climbing above $86,000. The week began with positive inflows of $31 million on Sept. 28 and $66.2 million on Sept. 29. However, the trend reversed on Sept. 30, with net outflows of $148.7 million, primarily driven by Fidelity’s FBTC, which saw $125.6 million in withdrawals.

Demand rebounded on Oct. 1, with ETFs attracting $102.7 million in inflows. BlackRock’s IBIT led the session with $195.6 million in inflows, offsetting withdrawals from competitors like FBTC and Grayscale’s GBTC. Bitcoin’s price mirrored these fluctuations, dropping from around $84,500 on Sept. 28 to a low of $82,600 before recovering as October began.

Bitcoin’s rally gained momentum over the weekend, reaching an intraday high of approximately $86,770 on Sunday. Despite the volatile ETF flows and midweek selling pressure, BTC closed around $86,480, roughly 2.7% higher than its opening price on Sept. 28. The recovery was supported by renewed expectations of a more patient approach to interest rates by the Federal Reserve.