US Spot Bitcoin ETFs Pull In $526.7 Million, Biggest Day in Nearly a Month
Bitcoin ETFs post best day since Sept. 22
U.S. spot Bitcoin ETFs brought in $526.7 million on Monday, Oct. 19, according to Decrypt's ETF tracker. That is the largest single-day inflow since Sept. 22, when the funds drew $714.7 million. It is the best day for these funds in nearly a month.
The inflow broke a two-week stretch of selling. During that period, the funds lost about $910 million, including a $484.9 million exit on Oct. 7 — their worst day since June. Friday ended with another $82.4 million of net selling, making Monday's result a sharp turnaround.
Key numbers from Monday's trading
- Bitcoin ETFs: $526.7 million net inflow, the biggest single day since Sept. 22.
- BlackRock's iShares Bitcoin Trust (IBIT): $665.2 million inflow, more than the entire net total, per Farside Investors.
- Fidelity's FBTC: $83.6 million outflow.
- Grayscale's GBTC: $54.9 million outflow.
- Other Bitcoin funds recorded no flows at all.
- Ethereum ETFs: $103 million outflow, a fourth straight day of losses.
- Solana ETFs: $6.7 million outflow.
Where BlackRock stood on both sides
BlackRock topped both lists on Monday. Its Bitcoin fund IBIT took in $665.2 million, while its Ethereum fund ETHA accounted for $95.4 million of the Ethereum outflows, per Decrypt's trackers.
Netted against the losses from Ethereum and Solana funds, Bitcoin, Ethereum and Solana funds together still drew roughly $417 million on the day.
Bitcoin traded near ETF holders' estimated average cost
Bitcoin hovered around $82,000 on Monday. That is close to the $82,300 average cost basis that Nexo analyst Iliya Kalchev estimated for ETF holders the week before. Cost basis is the average price investors paid for their coins, so a price near that level means the typical holder is roughly at breakeven.
Oil prices and inflation weighed on markets
Brent crude, the global oil benchmark, traded between $108 and $110 a barrel on Monday after weekend attacks on Persian Gulf tankers. Expensive oil raises the cost of fuel and freight, which feeds into the prices consumers pay, so markets tend to follow oil prices closely.
That effect shows up in the consumer price index, which rose 3.7% in the 12 months through September, with the energy index up 20.4%. Persistent inflation keeps the Federal Reserve leaning toward another increase after it lifted its target range by a quarter point in September.
Expected rate hikes push up Treasury yields, the return investors earn for lending to the U.S. government. The 10-year yield stayed above 5% on Monday, per Treasury data, and the 30-year touched about 5.7% on Oct. 7 — the day of the $484.9 million exit. Bitcoin pays no yield, so a Treasury returning more than 5% with far less price risk competes for the same money. The $261.4 million that left the funds on Oct. 14 came the same day the September CPI report was released.
What is confirmed
The figures for ETF flows, the Bitcoin price level, the oil price range and the Treasury yields all come from the trackers and data cited by Decrypt. The September inflation readings and the September quarter-point rate increase are also reported in the source material.
What is still unclear
The $82,300 average cost basis for ETF holders is an estimate by Nexo analyst Iliya Kalchev, not a confirmed figure. The source does not say what caused Monday's inflow or whether the trend will continue.
What happens next
U.S. spot Bitcoin ETFs are still about $88 million in the red for October, with nine trading sessions left. The Federal Reserve meets on Oct. 27-28.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.