Overview
- BlackRock’s iShares Bitcoin Trust (IBIT) has been the primary driver of recent BTC ETF demand, taking all $110.3 million of reported net inflows on Monday and capturing the bulk of the category’s new money over several sessions.
- US spot Bitcoin ETFs recorded multi‑day inflows that narrowed October’s net outflows toward flat and helped keep BTC trading around $79,000–$81,000 as traders rotated positions rather than adding large amounts of fresh capital.
- Spot Ethereum ETFs have seen sustained withdrawals through late October totaling roughly $1.26–1.32 billion for the month, a pace that has coincided with ETH trading near $2,300 and increasing downside pressure.
- Developments beyond flows are also shaping prices: the Federal Reserve’s decision to hold rates and the Ethereum Foundation’s postponement of the Hoodi testnet for the Glamsterdam upgrade to fix EIP‑8037 issues are cited as near‑term catalysts.
- High intra‑day ETF volume relative to net flows indicates much trading is position rotation, and the dominance of a single large fund means future IBIT moves, incoming economic data, and the upgrade timetable could quickly sway short‑term market direction.