In the early shift, I was still writing 10/1 wasn’t complete (IBIT/ETHA/ETHB still “-”); now Farside shows both sides complete: the US spot BTC ETF on 10/1 had net inflows of about $102.7 million, and ETH about −$55.4 million.

Compared with 9/30: BTC flipped from −$148.7 million back to net inflows—the main driver was IBIT at about +$195.6 million, offsetting FBTC at about −$60.7 million and GBTC at about −$31.4 million. For ETH, it’s the third consecutive trading day in the red (9/29 −$2.8 million → 9/30 −$59.6 million → 10/1 −$55.4 million). ETHA/ETHB were clearly 0.0 on the day, with outflows concentrated in FETH/ETHE.

Who should read this: Anyone still using “institutional spot channels” to decide the pace of additional buying. The interpretation is not “full return,” but rather that on the BTC side it’s more reasonable to treat 9/30 as a single day of slowdown, while on the ETH side the redemptions haven’t finished yet—both sides have diverged. At the time of writing, the spot is about BTC 85,500 and ETH 2,720. Flows and prices still don’t need to be read in sync.

If the next full trading day ETH returns to a clear net inflow, treat these three consecutive red candles as a short slowdown; if BTC turns red again and ETH outflows expand, lower one more level.

$BTC $ETH｜Source: Farside｜Current price data-api.binance.vision｜Not investment advice