Hardwood timber After four straight sessions of redemptions that pulled over $1.2 billion from spot Bitcoin ETFs, US issuers saw a sharp reversal on Oct. 21, bringing in $477.2 million in new inflows. It was the first positive print since Oct. 14 and the largest single-day net gain in two weeks.
BlackRock’s IBIT led the recovery with +$210.9 million, followed by ARK Invest’s ARKB (+$162.9 million) and Fidelity’s FBTC (+$34.1 million). Smaller inflows appeared in Franklin’s EZBC (+$8.9 million) and Invesco’s BTCO (+$6.5 million), while Grayscale’s GBTC continued to leak -$13.9 million. The rebound trimmed October’s cumulative redemptions after Bitcoin saw its price tumble under macro pressures.
Table showing the inflows and outflows for spot Bitcoin ETFs in the US from Oct. 3 to Oct. 21, 2025 (Source: Farside)The turn came after a bruising week for ETF issuers. Between Oct. 15 and 20, daily outflows reached as high as -$530 million, with IBIT and FBTC posting rare multi-day redemptions and GBTC’s bleed widening.
The resulting $1 billion net drawdown had been one of the steepest streaks since April. Monday’s reversal suggests some allocators are rotating within the ETF cohort rather than reducing overall exposure to Bitcoin altogether.
Bitcoin price holds steady at press time, with BTC trading around $108,600 with intraday moves of 5% after its run to $113,000 yesterday. The relative stability that followed the weekend slump implies that ETF flows are being absorbed without disturbing spot-market liquidity.
Open interest on CME futures and funding rates across major perpetual venues remained flat, showing little sign of leveraged follow-through. That pattern, net inflows without a price spike, often marks a phase of quiet institutional accumulation.
The day’s composition also showed how dominant IBIT and ARKB have become. Together they accounted for nearly 80 percent of Monday’s total, a reminder that the two funds continue to set the rhythm for ETF sentiment. Meanwhile, GBTC’s persistent outflows and narrower but still-negative discount to NAV suggest the legacy vehicle has yet to find equilibrium after converting from a trust to an ETF.
This bounce could turn into a potential reset heading into late October. With US yields easing and inflation expectations stabilizing, risk assets have recovered some traction, and ETF allocators appear to be rebalancing rather than withdrawing.
If inflows extend through mid-week, the move could mark the bottom of the latest ETF-flow cycle and set up a firmer base for Bitcoin’s next move within its $107,000-$113,000 range.
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