US Spot Bitcoin ETFs Post $110 Million Rebound After $774 Million Two-Day Exit
Key Takeaways
- •Spot Bitcoin ETFs attracted $110 million on Monday after two sessions that produced $774 million in combined outflows.
- •The funds remained approximately $202 million below breakeven for October through Monday.
- •Bitcoin traded at $79,595 and was down 2.6% over the previous seven days.
- •The Crypto Fear & Greed Index fell to 48 from 50, remaining in neutral territory.
- •Retail Bitcoin deposits to Binance nearly doubled to $10.8 billion over 30 days, while deposits from large holders declined to $3.8 billion.
US-listed spot Bitcoin exchange-traded funds (ETFs) returned to net inflows on Monday, drawing $110 million despite weakening market sentiment and continued volatility in Bitcoin's price, according to data from SoSoValue.
The Monday tally marked a rebound from $774 million in withdrawals over the previous two trading sessions, though it recovered only a portion of the capital that had exited the funds. Spot Bitcoin ETFs, approved for listing by the US Securities and Exchange Commission in January 2024, hold Bitcoin directly and allow investors to gain exposure to the asset through conventional brokerage accounts. Because the funds hold Bitcoin directly on shareholders' behalf, their daily net flow figures are widely tracked as a gauge of investor demand through regulated US-listed vehicles.
Despite the turnaround, US spot Bitcoin ETFs remained in the red for October, with approximately $202 million in net outflows for the month through Monday. Ending October in positive territory would require cumulative net inflows of more than $202 million over the remaining trading days of the month.
Bitcoin traded at $79,595 at the time of publication and was down 2.6% over the past seven days, according to CoinGecko.
Market sentiment also softened. The Crypto Fear & Greed Index, a widely followed gauge that measures investor mood on a scale of 0 to 100, fell to 48 from 50 the previous day while remaining in “Neutral” territory. Readings below 25 on the index signal “Extreme Fear,” while those above 75 indicate “Extreme Greed.”
On-chain data from CryptoQuant pointed to shifting behavior among holders, with retail investors sending more Bitcoin to Binance, the world's largest cryptocurrency exchange by trading volume, while large holders reduced their deposits.
Analyst Darkfost noted on CryptoQuant that retail Bitcoin deposits to Binance nearly doubled to $10.8 billion over 30 days, while deposits from large holders fell to $3.8 billion. Darkfost suggested that smaller investors might be using the recent price rebound as an opportunity to sell. Upcoming daily ETF flow tallies and on-chain exchange deposit figures will indicate whether the divergence between retail and large-holder activity persists.
