US spot Bitcoin ETFs snapped a two-week losing streak with $301.2 million in net inflows for the week ending October 24. The recovery was driven by strong inflows on Monday, Tuesday, and Wednesday, totaling $1.07 billion. However, Thursday and Friday saw significant outflows, with $773.5 million exiting the funds, nearly erasing the earlier gains.
BlackRock's iShares Bitcoin Trust (IBIT) led the week with $565.7 million in inflows, more than offsetting the net negative performance of other funds. Even IBIT faced late-week outflows, including $110.3 million on Friday. Fidelity's FBTC also saw $31.8 million in outflows on Friday, indicating broader market caution.
Bitcoin's price remained relatively stable, trading around $80,490 after a 1% move. Traders on Myriad increased the odds of a drop to $77,500 this month to 43%. Spot Ether ETFs, meanwhile, recorded a net outflow of about $221 million, diverging from Bitcoin's recovery.
Total assets under management for US spot Bitcoin ETFs now range between $104.7 billion and $109 billion, with cumulative net inflows exceeding $57 billion since their launch in January 2024. The week's mixed performance highlights the volatility and investor caution in the crypto market.