ETF Flows Recap
Spot crypto ETFs posted -$156.9M ↓ in net outflows during Wednesday's settled session, according to InflowScan data. Thursday's issuer tapes are still settling, so the figures below represent the most recent fully-reported day.
Fidelity dominated the redemption picture, accounting for both the single largest bitcoin exit and the largest ether exit. BlackRock's IBIT did not surface in the reported top-flow set — a departure from the recent pattern where the fund has absorbed the lion's share of directional activity on both sides.
The one meaningful inflow came from FSOL (Fidelity) at +$2.8M ↑ — a small print, but notable as the only solana product to break the surface. The concentration of redemptions in two Fidelity vehicles, rather than a broad-based retreat across issuers, is consistent with sponsor-specific rebalancing or a single large authorized-participant unwind rather than a sector-wide risk-off impulse.
Market Overview
Prices held firm into the Thursday open despite the Wednesday outflow print. Bitcoin trades at $83,928, up 0.4% over 24 hours and holding a 13.7% gain over 30 days. The divergence between settled ETF flows and spot action points to offshore and spot-market demand picking up what issuer channels have been shedding.
Asset Price Analysis
Bitcoin is holding the $83,000 handle with resistance stacked around the $85,000 round number. The 7-day change sits at -0.6%, suggesting a consolidation phase after September's run.
- BTC: $83,928 — 24h +0.4% ↑, 7d -0.6% ↓, 30d +13.7% ↑
- ETH: $2,707.99 — 24h +0.8% ↑, 7d -3.7% ↓, 30d +3.7% ↑
- SOL: $118.04 — 24h -0.1% ↓, 7d +9.2% ↑, 30d +15.6% ↑
- XRP: $1.49 — 24h +0.3% ↑, 7d +1.7% ↑, 30d +8.4% ↑
Ether is the softer story: a 3.7% drop over seven days against a 13.7% bitcoin gain over 30 days has pushed the ETH/BTC ratio lower, and Wednesday's $26.6M FETH exit extends a theme of ether-specific issuer rotation. Solana is the standout, up 9.2% on the week and 15.6% on the month, with the FSOL inflow adding a modest datapoint on the demand side.
Stablecoin Flows
USDT supply expanded by +$40M ↑ over 24 hours to $183.8B, while USDC contracted by -$451M ↓ to $74.1B, according to InflowScan data. The split — offshore stablecoin growth against onshore contraction — is consistent with the ETF-outflow-but-price-strength pattern seen in the spot tape, pointing to demand migrating toward offshore venues.
Outlook
Thursday's own issuer tapes settle overnight and will be reported in Friday's pre-market brief; the key read will be whether FBTC redemptions were a one-session rebalance or the start of a multi-day pattern. If IBIT reappears on the inflow side while Fidelity vehicles continue to shed, the setup is more consistent with sponsor-level reallocation than directional selling.
Key levels to watch: BTC resistance at $85,000 and support at the $83,000 handle, ETH's defense of $2,700, and whether SOL can push through $120 following Wednesday's small FSOL print. On the macro calendar, month-end positioning for October begins today — historically associated with elevated flow volatility in the first full trading week.