BlackRock, Fidelity drive $3.43B Bitcoin ETF surge in October
Despite hitting an immediate thud in November, Bitcoin ETFs performed strongly in October.
Bitcoin (BTC) exchange-traded funds rebounded sharply in the final week of October, attracting approximately $3.43 billion in net inflows, led by BlackRock’s $3.93 billion and Fidelity’s $163.8 million contributions.
The month began with steep outflows across several funds—totaling more than $3 billion at one point—before demand returned mid-October.
In contrast, Ethereum spot ETFs struggled throughout the month, recording roughly $1.65 billion in total outflows. Data from Farside Investors shows that Grayscale saw the largest net outflow at $109.1 million, followed by Fidelity at $28.8 million and 21Shares at $7.5 million. BlackRock’s ETHA dominated inflows with +$727.2 million.
Major ETF flows show mixed signals
Below is a snapshot of the largest moves among Bitcoin ETF issuers (in millions of dollars):
October 2025 Totals (All Bitcoin ETFs Combined)
- Total Inflows: ≈ $6,580 million.
- Total Outflows: ≈ $3,155 million.
- Net Flow: ≈ +$3,425 million.
Data from Farside Investors.
BlackRock’s IBIT fund led the surge, recording its strongest month to date with a net gain of $3.93 billion. Fidelity’s FBTC added $163.8 million, while VanEck and Invesco saw steady momentum with respective net inflows of $66.7 million and $64.1 million.
Meanwhile, ARK Invest’s ARKB posted $237.2 million in outflows after strong inflows earlier in the quarter. Bitwise ended the month slightly lower with $30 million in net outflows, and Grayscale’s GBTC continued to lose ground—shedding $546.5 million as investors shifted toward newer, lower-fee ETFs.
Analysts noted that the rebound in ETF flows coincided with Bitcoin’s climb back above $110,000 after several weeks of subdued trading.
Are rising Bitcoin inflows hinting at a bigger crypto comeback?
Bitcoin ETFs have been on a tear over the last couple years.
The surge in inflows came as Bitcoin regained strength, supported by steadier macro conditions and renewed risk appetite from institutional investors. Many traders view this as a signal that large funds are re-entering the market after a brief pause.
Ethereum funds, meanwhile, remain slower to recover as investors await greater clarity following delays in network upgrades. If current trends persist, Bitcoin ETFs could reach new highs before the end of the year, widening their lead over Ethereum-based products.
Author
Jacob Wolinsky
ValueWalk
Jacob Wolinsky is the founder of ValueWalk, a popular investment site. Prior to founding ValueWalk, Jacob worked as an equity analyst for value research firm and as a freelance writer. He lives in Passaic New Jersey with his wife and four children.
