U.S. spot crypto ETFs produced a mixed start to October, with Bitcoin funds attracting $102.7 million on October 1, while Ether and Solana products remained in negative territory.
Bitcoin’s rebound followed a $148.7 million withdrawal on September 30, meaning the category swung by $251.4 million from one session to the next. Ether ETFs recorded another $48.5 million of redemptions, while Solana funds posted a comparatively small $1.1 million net outflow.
Across the three categories, October 1 generated approximately $53.1 million of combined net inflows, reversing part of the roughly $220.8 million withdrawn from Bitcoin, Ether and Solana funds a day earlier.
The improvement was almost entirely attributable to BlackRock’s Bitcoin ETF, which absorbed enough capital to offset withdrawals across several competing products.
BlackRock Drives Bitcoin Back Into Positive Territory
BlackRock’s iShares Bitcoin Trust (IBIT) attracted $195.6 million, making it the dominant source of Bitcoin ETF demand on October 1. That was partially offset by $60.7 million of withdrawals from Fidelity’s FBTC and $31.4 million from Grayscale’s GBTC. Bitwise’s BITB lost $6.9 million, ARK 21Shares’ ARKB shed $7.7 million, Invesco’s BTCO lost $4.2 million and VanEck’s HODL recorded a $3.6 million withdrawal.
Two smaller positive contributions helped the category. Morgan Stanley’s MSBT added $7 million, while the Grayscale Bitcoin Mini Trust recorded $14.6 million of inflows. Franklin’s EZBC and WisdomTree’s BTCW were unchanged.
The resulting $102.7 million net inflow immediately reversed Bitcoin’s September 30 outflow, although it did not fully recover the previous session’s $148.7 million withdrawal.
The broader trend nevertheless remains considerably stronger than the two-day numbers suggest. Bitcoin ETFs had recorded nine consecutive positive sessions through September 29, including $999 million on September 21, $714.7 million on September 22 and $433 million on September 18.
Ether Extends Outflows as Solana Nearly Stabilizes
Ether ETFs remained under pressure for a third consecutive session, posting $48.5 million of net outflows on October 1 after losing $59.6 million on September 30 and $2.8 million on September 29.
Fidelity’s FETH accounted for $23.5 million of the latest withdrawals. Grayscale’s ETHE lost another $20.4 million, while Bitwise’s ETHW recorded a $6.1 million outflow.
Grayscale’s lower-fee Ethereum Mini Trust was the only fund to provide a meaningful offset, attracting $1.5 million. The remaining reporting products were either flat or had no flow figure reported in Farside’s October 1 table.
That leaves Ether ETFs with approximately $110.9 million of cumulative net outflows over the first three sessions following their seven-day September inflow streak.
Solana ETFs came considerably closer to stabilization. The category lost just $1.1 million, compared with $12.5 million on September 30. Bitwise’s BSOL recorded a $6.5 million withdrawal, while Grayscale’s GSOL attracted $5.4 million, almost completely offsetting the decline. Morgan Stanley’s MSOL, Franklin’s SOEZ and 21Shares’ TSOL were flat, while Farside had no October 1 flow figure for VSOL or FSOL.
October therefore began with a clear divergence in institutional flows: Bitcoin returned to net buying, Ether continued experiencing redemptions and Solana moved close to neutral. BlackRock’s $195.6 million IBIT intake was decisive. Without it, Bitcoin funds would also have finished October’s opening session firmly in negative territory.
