By U.S. spot Bitcoin ETFs took in a provisional $82.9 million in the week ended October 2, almost completely stalling after attracting $2.39 billion the week before, while spot Ether ETFs swung from nearly $690 million of inflows to roughly $118 million of withdrawals.
The totals are not yet final. Farside Investors still showed no Friday flow figure for BlackRock’s IBIT when FinanceFeeds checked the data on October 4. BlackRock’s ETHA and ETHB figures were also blank for Friday, meaning both weekly numbers could change when the missing data are added.
On the figures currently available, however, the change in pace is stark. Bitcoin ETF inflows fell about 97% week over week, while Ether funds went from a $689.8 million inflow to a net outflow.
The prior week was unusually strong. U.S. Bitcoin ETFs attracted approximately $2.39 billion between September 21 and September 25, which The Block described as their largest weekly inflow since October 2025. FinanceFeeds’ own finalized daily data showed $999 million arriving on Monday alone, followed by $714.7 million Tuesday, $346.9 million Wednesday, $190.7 million Thursday and $134.5 million Friday.
FinanceFeeds reported the finalized September 25 figures and the $2.39 billion weekly Bitcoin total after the final issuer data came through.
Bitcoin ETF Flows Fell From $2.39 Billion to a Provisional $82.9 Million
This week’s Bitcoin flow sequence started positively but never approached the scale of the previous week’s buying.
Spot Bitcoin ETFs took in $31 million on Monday, September 28, followed by another $66.2 million on Tuesday. The direction then changed sharply on Wednesday, when investors withdrew $148.7 million.
That September 30 session ended a nine-trading-day run of positive Bitcoin ETF flows. Fidelity’s FBTC accounted for $125.6 million of the withdrawals, while BlackRock’s IBIT lost a comparatively small $9.5 million.
FinanceFeeds covered the $148.7 million reversal on September 30, which marked the clearest break in the institutional buying streak that had built through the second half of September.
The category rebounded on Thursday with $102.7 million of inflows before Farside’s currently incomplete Friday data showed another $31.7 million.
That produces the provisional $82.9 million weekly total: $31 million on Monday, $66.2 million Tuesday, a $148.7 million withdrawal Wednesday, $102.7 million Thursday and $31.7 million currently reported for Friday.
BlackRock Bought While Much of the Rest of the Market Sold
The aggregate number also hides an unusually concentrated week.
BlackRock’s IBIT attracted approximately $292 million from Monday through Thursday, including $195.6 million on October 1 alone. By comparison, all Bitcoin ETFs combined generated only $51.2 million of net inflows over those same four sessions.
That means the rest of the Bitcoin ETF complex, excluding IBIT, was a net seller by roughly $240.8 million over Monday through Thursday.
Fidelity’s FBTC was one of the clearest sources of redemptions. It lost $10.9 million Monday, recorded no flow Tuesday, shed $125.6 million Wednesday and another $60.7 million Thursday before taking in $29.3 million in the provisional Friday data. That leaves FBTC about $167.9 million in the red for the week on currently reported figures.
Grayscale’s GBTC also lost a net $54.6 million through the week, including $23.2 million Monday and $31.4 million Thursday.
Thursday demonstrated the concentration particularly clearly. IBIT absorbed $195.6 million while Fidelity, Bitwise, ARK, Invesco, VanEck and GBTC all recorded withdrawals. BlackRock alone was large enough to drag the entire category back to a $102.7 million positive result.
FinanceFeeds detailed that October 1 split, including the $195.6 million IBIT inflow and simultaneous redemptions elsewhere.
Ether ETFs Went From $689.8 Million In to $118 Million Out
The reversal was more complete in Ether.
Spot Ether ETFs attracted $689.8 million in the previous week, with every trading session finishing positive. The run included $270 million on September 21, $162.2 million the following day, $104.5 million Wednesday, $66.1 million Thursday and $87 million Friday.
FinanceFeeds tracked the nearly $690 million week as institutional Ether demand accelerated.
This week opened with just $17.1 million of inflows on September 28. The funds then lost $2.8 million Tuesday, $59.6 million Wednesday and $55.4 million Thursday. Farside currently shows another $17.3 million withdrawal Friday.
That puts the week at a provisional $118 million net outflow.
BlackRock’s missing Friday figures matter here as well. ETHA and ETHB have no reported October 2 number in Farside’s current table, so the final weekly result could still move materially.
The 29,000 Payroll Print Did Not Produce a Big ETF Rush
Friday also supplied an unusual test for the macro sensitivity of crypto ETF demand.
The U.S. economy added only 29,000 nonfarm payrolls in September, according to the Bureau of Labor Statistics, while unemployment increased to 4.2%. July was revised from a 21,000 gain to a 10,000 decline, and August was reduced from 162,000 to 133,000.
The report sharply reduced expectations that the Federal Reserve would follow its September rate increase with another move in October. CME FedWatch pricing put the probability of an October hike at roughly 14% immediately after the jobs data, compared with around 24% before the report and much higher probabilities earlier in the week.
FinanceFeeds’ September jobs report analysis showed how the 29,000 print pushed October Fed-hike pricing down to roughly 15%.
That should, in principle, improve the liquidity backdrop for assets such as Bitcoin: lower expected rates reduce the relative attraction of cash and shorten the discount investors apply to risk assets.
But the ETF tape did not show an immediate wave of allocation. Farside currently records only $31.7 million of Bitcoin inflows Friday and $17.3 million of Ether outflows, although the missing BlackRock reports make both numbers incomplete.
That is the main message from the week. The macro backdrop became more supportive and Bitcoin ETF flows remained positive, but the institutional demand that produced $2.39 billion of buying only one week earlier did not continue at anything close to the same pace.
Until BlackRock’s Friday numbers arrive, the precise weekly totals remain open. The direction of the slowdown does not: Bitcoin ETF demand went from billions of dollars to tens of millions, while Ether funds moved outright into redemptions.