IBIT took $565.7M while the other bitcoin ETFs lost $256.7M. Bitcoin ETF buyers are barely above water; Ethereum's are $3.8B under. ͏ ͏ ͏ ͏
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CryptoETFWeekly
ISSUE #1 · OCT 19–23, 2026
Net flow, week
+$109.1M
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Lead story

One fund carried bitcoin, and the last two days took most of it back

Net flow by day, all 16 assets · USD millions Week +109.1
Mon Oct 19
+406.9
BTC +519.3
ETH −103.3
 
 
Tue Oct 20
+15.3
BTC +52.3
ETH −26.2
 
 
Wed Oct 21
+543.0
BTC +510.8
ETH +14.9
 
 
Thu Oct 22
−744.1
BTC −635.5
ETH −110.5
30-day worst
 
Fri Oct 23
−112.0
BTC −137.9
ETH +4.4
 

BlackRock's IBIT took in $665.2M on Monday alone and finished the week at +$565.7M. The other eleven bitcoin ETFs lost $256.7M between them.

Then the last two days flipped the tape: −$635.5M from bitcoin funds on Thursday, the largest outflow of the past month, and another −$137.9M on Friday, with IBIT itself giving back $110.3M. Bitcoin still closed the week at +$309.0M, but that is what remained of $1.08B built from Monday to Wednesday.

The week in numbers

All 16 assets
+$109.1M
Bitcoin
+$309.0M
Ethereum
−$220.7M
Everything else
+$20.8M
Other assetsWeek
ZEC Zcash+$41.1M
SOL Solana−$17.3M
HYPE Hyperliquid−$15.2M
NEAR NEAR+$5.2M
XRP XRP+$4.3M
SUI Sui+$2.0M
Under $1M: LTC +$0.6M, HBAR +$0.1M. No flow at all: DOGE, LINK, AVAX, BNB, DOT, TRX.

Who bought, who sold

Biggest single funds of the week, across all assets.
Top inflows
IBIT
BlackRock · BTC
+$565.7M
ZCSH
Grayscale · ZEC
+$41.1M
ETH
Grayscale Mini · ETH
+$20.7M
FETH
Fidelity · ETH
+$16.6M
Top outflows
ETHA
BlackRock · ETH
−$233.2M
FBTC
Fidelity · BTC
−$116.6M
ARKB
21Shares · BTC
−$99.6M
GBTC
Grayscale · BTC
−$51.8M
Streak to watch: BlackRock's ETHA, the largest Ethereum ETF, has not had a single inflow day since September 28. That is 19 trading days of outflows or zeros, and this week it lost $233.2M on its own, more than Ethereum ETFs lost as a group.

Sentiment: CEFI at 43, neutral

▼ 43
     
Extreme fearFearNeutralGreedExtreme greed
Friday lifted the index out of fear and back into neutral. Today's flow (37) and the 20-day trend (38) are still below 50; breadth rose to 55 and is the only part above it. How CEFI works →

Who's above water, who's under

Each asset's ETFs: average entry price against the latest price.
19
funds in profit
38
funds under water
  
Above water · 4
BNB+17.2%
HYPE+15.4%
SUI+6.6%
BTC+0.5%
Under water · 12
LINK−0.7%
TRX−1.4%
ZEC−4.0%
AVAX−4.0%
NEAR−10.9%
DOT−11.0%
SOL−12.3%
ETH−20.6%
LTC−21.5%
XRP−25.9%
DOGE−28.9%
HBAR−46.1%
The gap that matters: Bitcoin ETF buyers are only just above water: average entry $80,231 against a price of $80,616, a cushion of $440M. Ethereum ETF buyers are $3.8B under water, entry at $2,979 against $2,367, and have been for 347 days straight.
Every fund's entry price →

ETFs vs miners

1.5×
ETFs bought 3,597 BTC this week. Miners produced 2,409.
6.41%
of all bitcoin sits in US spot ETFs: 1,288,500 BTC, up 4,872 in seven days.
A week earlier the picture was reversed: ETFs sold 2,783 BTC while miners added 3,353 to supply. See every week since launch →

At the SEC: amendments, no launches

No new filings and no launches this week, but three pending products moved on Friday. 29 products are waiting for a decision; the typical 2026 filing has waited 222 days.

Oct 23Grayscale amended its Bittensor Trust (TAO) filing.
Oct 23Canary amended its Staked INJ ETF; Cryptex amended its Digital Market Cap ETF.
Oct 14VanEck withdrew its Lido Staked Ethereum ETF.
Sep 29Latest launch: Bitwise NEAR ETF (NRR). Net +$5.2M this week.

From the blog

Hedera ETF Explained: Canary HBR, Fee, Staking and Flows
The only US spot Hedera ETF: a 0.95% fee, staking, and every reward goes to the sponsor. 13 min
Zcash ETF Explained: Grayscale ZCSH Fee, Split and Flows
A 2.50% fee, a 3-for-1 split, and $100M of its inflows from its own parent company. 12 min
How the CEFI Index Is Calculated
Flow, trend and breadth: what goes into the 0–100 score, and why zero flow equals 50. 14 min
Tron ETF Explained: Canary TRXS Fee, Staking and Flat Flows
About 90% of its TRX is staked, and in a month it saw exactly one creation. 11 min
Avalanche ETF Explained: VAVX, GAVA and BAVA
Three staking AVAX funds with fees from 0.20% to 0.35%, compared side by side. 12 min
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Figures are net USD flows of US spot crypto ETFs, from issuer data. For information only, not investment advice.