Bitcoin ETFs Pull In $528 Million as Ether Funds End Outflow Streak

By Elena Vasquez

U.S.-listed spot bitcoin exchange-traded funds recorded $528.4 million in net inflows on Wednesday, their largest single-day total in nearly a month, according to data compiled by The Block. Ether funds also turned positive, taking in $14.9 million after five consecutive sessions of losses.

The concentration of flows was stark. BlackRock's IBIT attracted $235 million and Fidelity's FBTC drew $212.7 million — together roughly 85% of the day's total. Grayscale and Bitwise funds added a combined $51.2 million. Funds run by VanEck, Morgan Stanley, Invesco and WisdomTree reported no flows at all.

How large is the cumulative picture?

Since launching in January 2024, the spot bitcoin ETFs have accumulated approximately $58 billion in net inflows, with net assets standing at $109.3 billion, per SoSoValue. To put that in perspective: net assets now equal more than half of the cumulative inflow figure itself, reflecting substantial price appreciation embedded in the funds' holdings.

Wednesday's session was the third time this week that daily inflows exceeded $1 billion in aggregate across sessions, an unusual streak given prevailing market conditions. Bitcoin has been trading in a compressed range for weeks. K33 reported Tuesday that bitcoin's 28-day realized volatility had fallen to 1.2%, near its lowest reading this year.

That compression has a clear calendar anchor. Traders are waiting on the Federal Reserve's Oct. 28 rate decision and the U.S. midterm elections on Nov. 3 — two events likely to dictate whether the current low-volatility regime breaks in either direction.

The inflow figures deserve scrutiny on one point: strong creations during historically low volatility can reverse quickly once positioning resets. Nothing in the data indicates whether Wednesday's buyers were making directional bets or hedged structural allocations.

Where are the technical pressure points?

Glassnode weighed in on the downside map. The research firm said bitcoin's Oct. 15 drop to roughly $80,000 drew buyers near the cost bases of spot ETF holdings and corporate treasuries — suggesting a floor where large holders' average entry prices cluster.

The next significant concentration of sell orders and liquidation levels sits between $85,000 and $87,500, according to Glassnode. That band, roughly 4% to 7% above early Thursday prices, now functions as the immediate resistance zone traders will watch.

Bitcoin traded above $81,900 early Thursday, down 1.5% over 24 hours, per The Block's price page.

What happened with ether funds?

Ethereum ETFs returned to positive territory with $14.9 million in combined net inflows, ending a five-day outflow streak. Grayscale's fund led with $28.1 million, followed by Fidelity's FETH at $13 million.

The arithmetic is worth noting: those two figures exceed the combined total, which means other ether funds posted net outflows on the same day. The recovery is therefore narrower than the headline suggests, concentrated in two issuers rather than broad-based demand.

In plain terms, the ether reversal is real but shallow, and one week of data does not establish a trend.

What comes next?

The flow picture will likely remain hostage to the macro calendar. The Fed's Oct. 28 decision and the Nov. 3 midterms arrive within a week of each other, and bitcoin's volatility floor of 1.2% leaves little room for positioning error in either direction. If Glassnode's $85,000-to-$87,500 resistance band holds, the recent inflow streak faces its first genuine stress test.