Key Takeaways
- • Bitcoin ETFs recorded provisional net inflows of $82.9 million for the week of Sept. 28 to Oct. 2, a sharp 96.5% decline from $2.39 billion the prior week, signaling weakening institutional demand after a period of sustained strength.
- • Ethereum ETFs reversed a seven-day winning streak by posting $118 million in net outflows, ending a run that had attracted $850.6 million cumulatively and marking the first weekly outflow for Ether funds in over a month.
- • BlackRock's IBIT (Bitcoin ETF) led inflows with $292 million, while Fidelity's FBTC simultaneously shed $167.9 million, indicating divergent capital flows among the largest Bitcoin fund providers.
- • Fidelity's FETH accounted for $74.1 million of Ethereum's outflows, suggesting institutional reallocation away from the second-largest cryptocurrency during the period.
- • Smaller crypto ETF products showed mixed signals: Solana ETFs added only $800,000 (down 99.6% from $188.1 million weekly inflows), while Hyperliquid gained $3.4 million and Zcash tracking funds lost $77.6 million.
Summary
U.S. spot Bitcoin and Ethereum ETFs diverged sharply during the trading week ending October 2, with Bitcoin products attracting modest inflows while Ethereum funds experienced their first sustained weekly outflow in more than a month. Bitcoin ETFs pulled in $82.9 million in provisional net inflows, according to Farside Investors data, but this represented a dramatic pullback from the prior week's $2.39 billion, when markets had experienced five consecutive positive sessions including a single day that saw nearly $1 billion in inflows.
The reversal in Bitcoin appetite coincided with a sharp reversal in Ethereum products. Ethereum ETFs recorded $118 million in net outflows over the same period, ending a consecutive seven-day winning streak that had accumulated $850.6 million in total inflows. This marks a significant shift in institutional positioning, with data compiled by Farside Investors and CryptoQuant showing the sudden unwinding of what had been sustained momentum in Ether products.
Fund-level data reveals uneven capital distribution among major providers. BlackRock's IBIT led Bitcoin inflows with $292 million, but Fidelity's FBTC, one of the largest Bitcoin vehicles, shed $167.9 million during the same period—underscoring divergent institutional flows. On the Ethereum side, Fidelity's FETH accounted for $74.1 million of the $118 million weekly outflow, suggesting significant reallocation by this major provider. Smaller cryptocurrency ETF products reflected broader hesitation: Solana ETFs added just $800,000 compared to $188.1 million the prior week, while Hyperliquid gained $3.4 million and Zcash declined $77.6 million.
The weekly totals remain provisional, as of October 3, with incomplete Friday data pending BlackRock entries for IBIT, ETHA, and ETHB. This incompleteness means final figures may shift modestly, though directional trends are clear: Bitcoin retained modest inflow momentum despite a pullback from recent highs, while Ethereum faced a sustained outflow that reversed weeks of consecutive gains.
The reversal in Bitcoin appetite coincided with a sharp reversal in Ethereum products. Ethereum ETFs recorded $118 million in net outflows over the same period, ending a consecutive seven-day winning streak that had accumulated $850.6 million in total inflows. This marks a significant shift in institutional positioning, with data compiled by Farside Investors and CryptoQuant showing the sudden unwinding of what had been sustained momentum in Ether products.
Fund-level data reveals uneven capital distribution among major providers. BlackRock's IBIT led Bitcoin inflows with $292 million, but Fidelity's FBTC, one of the largest Bitcoin vehicles, shed $167.9 million during the same period—underscoring divergent institutional flows. On the Ethereum side, Fidelity's FETH accounted for $74.1 million of the $118 million weekly outflow, suggesting significant reallocation by this major provider. Smaller cryptocurrency ETF products reflected broader hesitation: Solana ETFs added just $800,000 compared to $188.1 million the prior week, while Hyperliquid gained $3.4 million and Zcash declined $77.6 million.
The weekly totals remain provisional, as of October 3, with incomplete Friday data pending BlackRock entries for IBIT, ETHA, and ETHB. This incompleteness means final figures may shift modestly, though directional trends are clear: Bitcoin retained modest inflow momentum despite a pullback from recent highs, while Ethereum faced a sustained outflow that reversed weeks of consecutive gains.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.