Key Takeaways
- Bitcoin ETFs drew $241.08M last week, extending their inflow streak to three weeks.
- Blackrock led for bitcoin ETFs, while ether and zcash demand weakened.
- The key test is whether October flows stay positive as NEAR debuts with $58.35M in first-week inflows.
Blackrock Adds $450M as Bitcoin ETF Demand Splits
The flood of institutional money into bitcoin slowed last week, but it never disappeared.
After attracting $2.39 billion in the previous five sessions, U.S. spot bitcoin ETFs added a more measured $241.08 million between Sept. 28 and Oct. 2—a roughly 90% drop. Even so, that was enough to secure a third consecutive positive week.
The path was uneven.
Bitcoin funds brought in $31.07 million on Monday and $66.19 million on Tuesday, before a midweek $148.69 million outflow broke a nine-session winning streak. Buyers returned quickly, adding $102.67 million on Thursday and $189.84 million on Friday to finish out the week.
Blackrock’s IBIT dominated the weekly picture with $450.18 million in net inflows, while Fidelity’s FBTC moved the other way, losing $167.94 million. Grayscale’s GBTC shed $54.58 million, and Bitwise’s BITB lost $38.65 million.
The slower pace comes after bitcoin ETFs collected $2.65 billion in September, their second-strongest monthly result since October 2025. The strength has helped maintain an institutional cushion beneath bitcoin’s price, even as daily flows become less aggressive.
Ether and Zcash Lose Momentum
Ether ETFs endured their weakest weekly showing in several weeks, recording roughly $138 million in net outflows.
Monday began with a $17.10 million inflow, but then the tone deteriorated, with four consecutive negative sessions culminating in a $37.36 million exit Friday. Fidelity’s FETH accounted for $74.06 million of the weekly redemptions.
The reversal followed a strong September in which ether ETFs still attracted $832.43 million. That was well below August’s $1.85 billion, suggesting institutional demand has cooled as the crypto market moves into October.
Zcash suffered an even sharper reversal.
ZEC ETFs lost $93.56 million last week, ending a five-week inflow streak. Grayscale’s ZCSH recorded outflows on Monday, Wednesday, Thursday and Friday as assets fell well below the $1 billion threshold reached in late September.
Solana, XRP, and HYPE Stay Positive
Solana ETFs managed a $2.43 million weekly inflow despite multiple negative sessions. The category had already posted $271.61 million in September, its second-best month since launch.
XRP ETFs added roughly $4.74 million for the week. Monday and Thursday produced inflows, while Friday’s $3.28 million withdrawal trimmed the gain.
HYPE ETFs finished with about $3.31 million in net inflows, extending their positive weekly run to three.
The mixed results show that capital is still reaching beyond bitcoin, although allocations have become increasingly selective.
NEAR Makes an Immediate Impression
The newest ETF category supplied one of the week’s clearest growth stories.
Bitwise’s NEAR fund debuted Tuesday with $35.99 million in inflows. It added $14.04 million on Wednesday, $8.08 million on Thursday, and another $241,620 on Friday, bringing its first-week total to roughly $58.35 million.
That demand arrived during a week when softer U.S. employment data helped ease fears of additional Federal Reserve tightening. September payrolls rose by 29,000, below expectations, while earlier months were revised lower.
Growth data remained resilient, keeping the macro backdrop complicated.
Meanwhile, ETF Store President Nate Geraci highlighted another sign of how quickly the regulatory landscape has evolved after the SEC approved listings for the first 3x leveraged bitcoin and ether ETFs. He called the shift a “wild turn of events.”
For crypto investors, the week delivered a similar message. Institutional demand remains present, but October has opened with a wider gap between winners and losers.
