US spot bitcoin ETFs finished the week to Friday with a $301.2 million net inflow, even after $773.5 million left on Thursday and Friday, the two sessions that followed the failed push toward $85,000. Farside Investors put Monday at $526.7 million, Tuesday at $23.2 million and Wednesday at $524.8 million, about $1.07 billion in, close to the $1.08 billion three-day run we reported from Wednesday's print. Thursday then took out $635.6 million, the largest daily outflow since 25 June, and Friday took out another $137.9 million. Monday's figures for 26 October were not in yet.
BlackRock led both the buying and the exit
The week was an IBIT story in both directions. BlackRock's fund drew $665.2 million on Monday, $29.9 million on Tuesday and $235.0 million on Wednesday, then lost $254.1 million on Thursday and $110.3 million on Friday. That still left IBIT about $565.7 million ahead for the five sessions. Fidelity's FBTC lost $217.5 million on Thursday and $31.8 million on Friday. Ark's ARKB lost $109.4 million on Thursday. Bitwise's BITB lost $27.4 million and Grayscale's GBTC lost $29.5 million the same day. Morgan Stanley's MSBT, launched in April, was the outlier, adding $2.3 million on Thursday and $4.2 million on Friday. The Block noted MSBT has had only one outflow day since launch.
October is back in the red
The weekly gain snapped two losing weeks, but it did not repair the month. Cointelegraph, citing SoSoValue, said Thursday's withdrawals had already put October about $175 million in the red. Friday's further $137.9 million took that month-to-date loss to about $313 million. Cumulative net inflows since the January 2024 launch are still above $57 billion, with assets near $100 billion, according to The Block. The price did not wait for the flows to settle. Bitcoin is back near $80,200, under the Glassnode ETF cost basis near $82,313, as we set out in today's price story. Lorris Beziers of Tesseract told The Block that the next test was whether inflows continued while bitcoin held $80,000 to $81,000. "If inflows fade and that floor breaks, the demand picture has weakened," he said. The floor bent over the weekend. Wednesday's Fed decision is the next print that can change it. Follow the day's moves on our markets desk.