Key Takeaways
- • US spot Bitcoin ETFs drew $526.6 million in net inflows on Monday, October 19, their biggest single day since September 22, when the funds took in $714.75 million.
- • BlackRock's iShares Bitcoin Trust (IBIT) was the only Bitcoin fund to record a net inflow that day, per SoSoValue data; the other 11 Bitcoin funds posted no net inflows.
- • The session cut Bitcoin ETFs' October net outflows from $617.17 million to $90.57 million, and more than reversed the prior week's $163.18 million outflow (October 13-16).
- • Ethereum ETFs shed $103.28 million and Solana products lost $6.72 million on the same day; Ethereum funds have recorded net outflows on 14 of the last 15 trading days, totaling $1.12 billion.
- • Bitcoin traded at $82,060 at press time, back above the roughly $81,500 ETF cost basis per Glassnode, while holding above its 50-week moving average near $76,100.
Summary
US spot Bitcoin exchange-traded funds recorded $526.6 million in net inflows on Monday, October 19, according to BeInCrypto, marking their largest single-day intake since September 22, when the funds took in $714.75 million. The inflow followed a weak start to October, during which Bitcoin ETFs had lost a net $617.17 million before Monday's session.
The flows were concentrated in one product. BlackRock's iShares Bitcoin Trust (IBIT) was the only Bitcoin fund to record a net inflow that day, per SoSoValue data, while none of the other 11 spot Bitcoin funds posted net inflows. The session also more than reversed the prior week, when Bitcoin ETFs saw a net outflow of $163.18 million between October 13 and 16.
Ether-linked products moved in the opposite direction. Ethereum ETFs shed $103.28 million on Monday and Solana products lost $6.72 million. Ethereum funds have now posted net outflows on 14 of the last 15 trading days, totaling $1.12 billion.
Bitcoin's price action held up better than US equities during the prior week. According to analyst Ash Crypto, Bitcoin closed that week down about 2% and held $80,000 support, while the Nasdaq fell 5% and the semiconductor index dropped more than 11%. Over the full month, Bitcoin is down 1.75% since October 1, following a 42.71% gain in the third quarter. At press time, Bitcoin traded at $82,060, down 0.44% over 24 hours, per BeInCrypto Markets data.
Per Glassnode, Bitcoin has moved back above the roughly $81,500 average cost basis of US spot ETF purchases after slipping below it the previous week. Ash Crypto noted Bitcoin has closed above its 50-week moving average, near $76,100, for five consecutive weeks. The analyst lists $80,000 and $76,000 as downside support and $84,000 and $87,500 as upside levels. Glassnode identifies $88,000 as the cost basis of six-to-12-month buyers, and says a daily close above that level alongside renewed ETF inflows would signal buyers absorbing that supply. Monday's IBIT-led session satisfies part of the inflow condition.
The flows were concentrated in one product. BlackRock's iShares Bitcoin Trust (IBIT) was the only Bitcoin fund to record a net inflow that day, per SoSoValue data, while none of the other 11 spot Bitcoin funds posted net inflows. The session also more than reversed the prior week, when Bitcoin ETFs saw a net outflow of $163.18 million between October 13 and 16.
Ether-linked products moved in the opposite direction. Ethereum ETFs shed $103.28 million on Monday and Solana products lost $6.72 million. Ethereum funds have now posted net outflows on 14 of the last 15 trading days, totaling $1.12 billion.
Bitcoin's price action held up better than US equities during the prior week. According to analyst Ash Crypto, Bitcoin closed that week down about 2% and held $80,000 support, while the Nasdaq fell 5% and the semiconductor index dropped more than 11%. Over the full month, Bitcoin is down 1.75% since October 1, following a 42.71% gain in the third quarter. At press time, Bitcoin traded at $82,060, down 0.44% over 24 hours, per BeInCrypto Markets data.
Per Glassnode, Bitcoin has moved back above the roughly $81,500 average cost basis of US spot ETF purchases after slipping below it the previous week. Ash Crypto noted Bitcoin has closed above its 50-week moving average, near $76,100, for five consecutive weeks. The analyst lists $80,000 and $76,000 as downside support and $84,000 and $87,500 as upside levels. Glassnode identifies $88,000 as the cost basis of six-to-12-month buyers, and says a daily close above that level alongside renewed ETF inflows would signal buyers absorbing that supply. Monday's IBIT-led session satisfies part of the inflow condition.
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