Bitcoin ETF Inflows Slow to $23.2 Million After $526.7 Million Day

Bitcoin traded near $83,382 at 8:18 a.m. ET (12:18 UTC) Wednesday, Oct. 21, as U.S. spot Bitcoin exchange-traded funds logged a second straight session of net inflows, though Tuesday’s intake fell sharply from the prior session.

The funds took in $526.7 million on Monday, Oct. 19, and $23.2 million on Tuesday, Oct. 20, for about $549.9 million over two sessions. That followed net outflows of $228.4 million across the five sessions from Oct. 12 to Oct. 16.

Monday’s inflow was concentrated in BlackRock’s iShares Bitcoin Trust (IBIT), which recorded $665.2 million in inflows. Fidelity’s FBTC saw $83.6 million in outflows, while Grayscale’s GBTC saw $54.9 million leave the fund. On Tuesday, IBIT recorded $29.9 million in inflows and FBTC recorded $3.6 million, partly offset by $10.3 million in outflows from Bitwise’s BITB.

ETF flow figures track net fund activity but do not identify investors, so they do not establish whether institutions drove the inflows. Bitcoin was about 1.9% below $85,000 at the time of the price snapshot. The $84,000-$85,000 range has held more long-term-holder supply than any other price band.

The Swiss Financial Market Supervisory Authority (FINMA) approved Switzerland’s first retail fund to invest directly in Bitcoin on Oct. 20. FINMA classified the fund as an “other fund for alternative investments” under Swiss law and said Bitcoin’s market risk remains very high.