Bitcoin ETFs take in $527M, their best day in nearly a month

US spot bitcoin exchange-traded funds took in a net $526.7 million on Monday, Oct. 19, their biggest daily haul since Sept. 22, after two straight weeks of net withdrawals. The figures come from Farside Investors and were reported by Cointelegraph. Ether funds moved the other way.

Monday's flows

• BlackRock IBIT: +$665.2 million, more than the net total for the whole group.
• Fidelity FBTC: −$83.6 million.
• Grayscale GBTC: −$54.9 million.
• Other bitcoin funds: no net flows.
• Net for spot bitcoin ETFs: +$526.7 million, the most since the $714.7 million recorded on Sept. 22, and a turnaround from Friday's $82.4 million of outflows.

Still red for October

One good day does not erase the recent run. Spot bitcoin ETFs lost about $229 million last week and $681 million the week before, and on Oct. 7 they posted $483.9 million of outflows, the largest single-day withdrawal since June. We tracked that streak in our weekly ETF flow wrap. Even after Monday, Farside's daily data leave the funds about $88 million in net outflows for the month so far.

The rebound came as bitcoin traded around $82,000 on Monday and tech stocks bounced from last week's sell-off, according to CoinDesk's market coverage. The price snapshot above shows where bitcoin and ether stood at our last build.

Ether funds keep bleeding

• Spot ether ETFs: −$103.3 million on Monday.
• BlackRock ETHA: −$95.4 million, most of the day's total.
• Last week: about −$320 million, the third week in a row of net withdrawals.

What to watch

The split between IBIT and the rest is worth noting: one fund did all the heavy lifting while two large rivals saw money leave. BlackRock is also widening its bitcoin line-up; on Monday it filed for a bitcoin ETF with a downside buffer. Whether Monday marks a turn will depend on whether inflows continue through the week. If you are weighing a fund against holding coins yourself, our guide to bitcoin ETFs vs buying bitcoin sets out the trade-offs.