Bitcoin ETFs stay green despite Friday wobble
U.S. spot Bitcoin ETFs kept Q4 in the green even as price turned into a headwind. For Oct 6–10, net flows totaled about $2.71B while weekly trading climbed to roughly $34.6B.
Yet assets under management (AUM) finished lower near $159.0B versus about $164.5B a week earlier, a sign that BTC’s slide outweighed the cash coming in.
Bitcoin ETFs stayed green despite a risk-off Friday: about $2.71B flowed in for Oct 6–10 as activity climbed and AUM settled near $158.96B with BTC around $116.7K. Source: SoSoValue
The path through the week was clear: strong buying early, stress into the close. Monday printed the week’s biggest gain at roughly $1.21B; Tuesday added about $876M; Wednesday another $441M; and Thursday a softer $198M. Friday broke the streak with a small net outflow of roughly $5M, but on the heaviest turnover of the week, near $9.8B. That mix reads as de‑risking and rebalancing on volatility rather than a broad exit: participation stayed high while prints turned lighter.
AUM told the same story. The week began around $169.5B and stepped down day by day to roughly $159.0B into Friday’s close. With flows positive, the only way to get that decline is a price drag. In other words, mark‑to‑market effects overwhelmed the inflow cushion by week’s end.
By products, leadership narrowed as the week progressed. CoinGlass (BTC terms) shows IBIT (iShares Bitcoin Trust, BlackRock) as the engine with about +21.3K BTC for the week (~97% of net) – effectively the entire result. FBTC (Fidelity Wise Origin Bitcoin Fund) contributed a modest +0.72K BTC, while BITB (Bitwise Bitcoin ETF) added roughly +0.34K BTC. Other smaller funds were marginal and didn’t move the aggregate. The drags were concentrated in GBTC (Grayscale Bitcoin Trust, −0.76K BTC) and ARKB (ARK 21Shares Bitcoin ETF, −0.10K BTC).
Daily extremes underline the pattern: IBIT posted the two largest single‑day prints (≈+7.86K BTC on Monday and ≈+7.22K BTC on Tuesday), whereas GBTC (≈−369 BTC on Thursday) and BITB (≈−308 BTC on Friday) led the reds. Friday’s tape was the tell: IBIT still positive (~+0.61K BTC) while peers flipped negative—breadth tightened right when volatility spiked.
In context, the tape remains constructive but selective. The last five weeks stack up as +$2.34B → +$0.89B → −$0.90B → +$3.24B → +$2.71B: one red week inside a mostly green run. Two takeaways matter for the next print. First, breadth: if FBTC keeps adding and the second tier (ARKB/BITB) stays positive, green weeks can persist without heroic volumes. Second, price: if BTC stabilizes, AUM will stop bleeding and flows will look stronger than they did on paper this week. If breadth narrows again into risk‑off days, the segment stays hostage to a single leader.
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