In a remarkable turn of events, U.S. spot Bitcoin and Ethereum exchange-traded funds (ETFs) recorded a substantial resurgence on October 14, rebounding from a tumultuous weekend marked by massive withdrawals. The funds saw a combined net inflow of $338.8 million, just a day after suffering over $755 million in outflows—a significant indication that institutional investors may be returning to accumulation mode.
Data from SoSoValue revealed that Bitcoin spot ETFs managed to attract $102.58 million in net inflows, while Ethereum ETFs garnered $236.22 million. This recovery came after a weekend sell-off that led to the crypto market losing more than $500 billion, driven largely by escalating trade tensions between the U.S. and China, alongside widespread liquidations across exchanges.
Industry analysts are keenly observing whether this swift rebound signals genuine accumulation or is merely a fleeting moment. Kevin Lee, Chief Business Officer at Gate, noted that while one strong inflow day is a positive development, it should be interpreted as a “constructive signal, not a verdict.” He emphasized the necessity for consistent net creations across issuers and a return to normalcy in futures and options trading before jumping to conclusions about sustained interest.
Conversely, Siraaj Ahmed, CEO at Byrrgis, adopted a more optimistic outlook, framing the inflow trend as a real indicator of early accumulation rather than a random fluctuation. “Institutions don’t chase panic—they buy fear,” he remarked, suggesting that this behavior aligns with the patterns typically observed as the market transitions into the fourth quarter.
As ETFs began attracting renewed interest, with on-chain accumulation rates climbing and macroeconomic conditions appearing more stable, market analysts are suggesting a potential phase of rebuilding could be underway following last week’s sharp correction. Fidelity’s Wise Origin Bitcoin Fund (FBTC) led the inflow charge with $132.67 million, contributing to its total historical net inflows of $12.74 billion. Other notable inflows came from Bitwise’s BITB and BlackRock’s iShares Bitcoin Trust (IBIT).
As of October 14, Bitcoin spot ETFs collectively managed $153.55 billion in assets, accounting for 6.82% of Bitcoin’s overall market cap. Cumulative inflows have now approached $62.55 billion, with daily trading volumes reported at $6.92 billion despite persistent market volatility. Meanwhile, Ethereum ETFs exhibited even stronger dynamics, with total assets under management climbing to $28.02 billion.
Despite the turbulence of the preceding days, Bitcoin and Ethereum displayed resilience, with Bitcoin trading around $113,054—an uptick of 1.1% over the prior 24 hours but down 7.2% over the week. Ethereum experienced a daily rise of 4.3% to $4,180.55, though it remains approximately 15% below its all-time high.
Market data suggests that institutional confidence in crypto may be quietly rebuilding, as ETF assets approach the $1 trillion mark. Analyst Eric Balchunas pointed out that crypto ETFs have recorded an influx of $30 billion in the past week, putting them on track to surpass last year’s total.
Meanwhile, macroeconomic signals are turning increasingly favorable for risk assets, particularly following comments from Federal Reserve Chair Jerome Powell about potentially halting the balance sheet reduction program in light of weakening labor data.
On-chain metrics indicate a pattern of accumulation, with recent data showing that short-term Bitcoin holders have increased their holdings significantly, while Ethereum’s supply on exchanges has dropped to a multi-month low—a trend that often precedes upward price movements as available supply tightens.
Overall, these developments paint a complex picture of a cryptocurrency market that, while entangled in volatility, appears to have underlying institutional support driving towards a possible recovery.
