Bitcoin ETFs See $477 Million Come Back as Investors Shift from Gold

Key Highlights:

• Bitcoin ETFs rebound with $477M in fresh inflows
• Institutions return as gold sees its sharpest fall since 2020
• Rising volumes hint at a renewed wave of crypto demand

U.S. spot Bitcoin exchange-traded funds returned to positive territory on October 21, recording $477.2 million in daily inflows. The move marks a strong reversal after several days of steady outflows, signaling renewed confidence among institutional investors.

Capital flows into U.S. Bitcoin ETFs. Source: Farside Investors

Ethereum joins the rebound as volumes surge

Nine of the 12 spot Bitcoin ETFs saw inflows, with BlackRock’s IBIT leading at $210.9 million, followed by ARKB with $162.8 million and Fidelity’s FBTC with $34.15 million.

Spot Ethereum ETFs also benefited, attracting $141.6 million in total, led by Fidelity’s FETH with $59 million, while BlackRock, Grayscale, and VanEck funds added additional inflows.

The bounce comes after more than $1 billion in outflows triggered by heightened trade tensions between the U.S. and China. The fresh inflows suggest sentiment may be stabilizing, with investors again turning to crypto for diversification amid macro uncertainty.

Bitcoin ETF trading volume hit $7.41 billion on October 21. Throughout October, volumes ranged between $5 billion and $9.78 billion, significantly higher than the previous month’s $2–4 billion range.

Gold loses ground as crypto demand builds

Institutional participation in digital assets continues to expand, supported by rising liquidity and yield-seeking strategies. Meanwhile, traditional safe-haven assets are losing momentum. On October 21, gold prices dropped 5.9%, marking their sharpest intraday fall since 2020.

The shift appears to be pushing capital toward Bitcoin, with some analysts now anticipating an “aggressive catch-up trade” as crypto regains appeal over declining metals.

Yesterday’s $477 million inflow indicates that institutional appetite for Bitcoin is returning — and gold’s breakdown could accelerate the trend in the weeks ahead. ​