US spot Bitcoin ETFs lost $643M on Friday, the worst single day since the Binance hack unwind, snapping a four-day inflow streak. October closed with roughly $516M in net outflows across the category (via Farside Investors).
That headline number hides the real story. BlackRock's IBIT closed October with +$932M in net inflows on its own. Every other BTC ETF — FBTC, ARKB, GBTC, and the rest — lost a combined $1.45B over the same month.
Capital isn't really leaving bitcoin ETFs. It's leaving everyone except the biggest fund in the category. Keep that compounding and the smaller issuers start looking less like competitors and more like decaying order flow for IBIT to absorb.
Where do you think that capital rotates next — back into IBIT, into spot BTC directly, or out of the category altogether?
#Bitcoin #ETF #TokenBot $BTC $TBOT
That headline number hides the real story. BlackRock's IBIT closed October with +$932M in net inflows on its own. Every other BTC ETF — FBTC, ARKB, GBTC, and the rest — lost a combined $1.45B over the same month.
Capital isn't really leaving bitcoin ETFs. It's leaving everyone except the biggest fund in the category. Keep that compounding and the smaller issuers start looking less like competitors and more like decaying order flow for IBIT to absorb.
Where do you think that capital rotates next — back into IBIT, into spot BTC directly, or out of the category altogether?
#Bitcoin #ETF #TokenBot $BTC $TBOT
