Across all US crypto funds, net inflow totaled $416.7 million, although $164.8 million was withdrawn from them on Friday. The breakdown by asset diverged sharply: Bitcoin +$526.7 million, Ethereum -$103.3 million, Solana -$6.7 million.
One player accounted for the entire gain - iShares Bitcoin Trust (IBIT) from BlackRock, the world's largest asset manager: +$665.2 million for the session. At the same time, $83.6 million was withdrawn from Fidelity's fund (FBTC), $54.9 million from Grayscale (GBTC), and the remaining funds saw no movement.
Scale of the reversal: on Friday, Bitcoin funds gave back $82.4 million, meaning the change for the session was $609.1 million. For comparison, on October 13 the inflow was only $175.7 million. IBIT itself lost $71.8 million the session before.
Ethereum has its fourth negative day in a row. The main outflow is again from BlackRock: $95.4 million left ETHA, $6 million left FETH, and $1.9 million left ETHE. Since October 14, the accumulated outflow from Ethereum funds is about $362.8 million.
Against this backdrop, BTC gained 2.4% on Monday and traded around $82,830: investors were revising their expectations for the Fed rate. There is no direct causal link between fund inflows and price.
What this means: a week earlier, three categories of funds collectively lost $585.5 million, so one strong day is not yet a sustained return of institutional demand. Especially since the gain is concentrated with one manager, while Fidelity and Grayscale continue to give back money.
Did you trade this rally on your own deposit?
One fund brought $665 million into the market in a single day - for that kind of money, a 2.4% move is already a full-fledged result. You have the same chart and, maybe, the same long, only with a deposit of a couple thousand this percentage changes absolutely nothing. It all comes down to the notional size of the position, not the quality of the idea. Prop trading is what gives you that notional: you pass the company's selection process and trade its account within its risk limits. The mechanics are worth breaking down before the next day like this.