BTC Spot ETF Sees $527 Million in Net Inflows in a Single Day【MEXC Alpha Trader – Daily Market Brief (October 21, 2026)】

I. Macro and Market Sentiment

· Market data: BTC $82,948.00（+1.58%）｜ETH $2,454.49（+2.51%）｜SOL $106.67（+1.91%）

· Market sentiment: Funding rate +0.0053%｜Fear & Greed Index 63（Greed）

· Rate outlook: All 100 economists surveyed expect a rate hike in December, while the wording of the October 28 meeting will shape pricing for funding costs. Further reading

II. Trading Signals / Trending Topics

· [Today's Focus] BTC｜Diverging Spot ETF Flows, With Inflows Into BTC and Outflows From ETH, Indicate That Traditional Capital Favors Bitcoin Exposure

· BTC serves as the market-wide liquidity anchor, with spot ETFs posting net inflows of $526.7 million in a single day, while ETH spot ETFs recorded net outflows of $103.3 million.

· Takeaway: ETF creations and redemptions reflect capital flowing through spot channels rather than leveraged derivatives. The divergence suggests institutional allocations have not expanded across major cryptocurrencies in tandem.

· Further reading: 1

· [On-Chain] ETH｜The Staking Ratio Rises to 35.9%, With Shrinking Circulating Supply Alongside Declining Yields

· As a settlement layer for RWA, stablecoins, and L2s, ETH staking has risen to 43.80 million ETH, accounting for 35.9% of total supply.

· Takeaway: A high staking ratio reduces available circulating supply, but declining staking yields and validator numbers mean expanding locked holdings do not necessarily translate into new spot demand.

· Further reading: 1

· [Market Watch] SOL｜R3 Integration Partnership Expands the Institutional Narrative, Though Settlement Scale Remains to Be Validated

· SOL is a proxy for high-frequency on-chain activity throughput. R3 says its on-chain RWA scale exceeds $10 billion and that it is developing the next-generation Corda with the Solana Foundation.

· Takeaway: The partnership is an infrastructure connection. Whether institutional assets actually enter on-chain settlement channels remains the key distinction between narrative and incremental business activity.

· Further reading: 1

III. Regulation and Major Events

· SEC｜Public consultation on the Crypto Asset Regulatory Framework has concluded, with around 140 submissions focused on safe harbors, issuance exemptions, and airdrop rules. The proposed startup issuance exemption cap is $5 million. Further reading

· Drift Protocol｜The attacker has transferred a cumulative 25,700 ETH to Tornado Cash, increasing the complexity of fund tracing and on-chain compliance handling. Further reading

IV. Platform-Exclusive Benefits

· Alpha Golden Autumn Benefits Campaign (Regional Campaign)

· Spain, Portugal + EN October Points Competition (Regional Campaign)

· Loss Compensation Campaign (Phase 4) (Futures)

· Alpha Trader October Zero-Fee Task (Futures)

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Recommended Reading: MEXC On-Chain Daily Report: Switzerland Approves First Spot Bitcoin ETF for Retail Investors

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