Bitcoin opened the first week of October with stronger performance than in previous years, while U.S. spot Bitcoin ETFs recorded $241.09 million in net inflows for the seven days ending October 2.
Bitcoin ETFs drive net inflows as seasonal weakness fades
Historically, the beginning of October has brought Bitcoin’s weakest three-day period of the month, with an average loss of 0.66%, according to data from CryptoQuant, a blockchain analytics firm. However, 2026 began differently, as Bitcoin avoided this typical decline and outpaced its usual early-October returns.
ETF activity added momentum to the market. Hupzy, an analyst at Spot On Chain, reported that U.S. spot Bitcoin ETFs recorded $241 million in net inflows during the week, marking the third week in a row of positive movement. Meanwhile, Ethereum-based ETFs saw investors pull funds.
Bitcoin’s first three days of October have historically been its weakest stretch of the month, averaging a 0.66% decline. In 2026, this pattern did not appear, with Bitcoin maintaining stronger prices.
BlackRock leads Bitcoin ETF buying, contrasting with Ethereum ETF outflows
U.S. spot Bitcoin ETFs purchased around 2,850 BTC from September 28 to October 2, according to industry researcher Crypto Patel. He noted this amount roughly equals the supply of new Bitcoins mined over six days, adding pressure on circulating supply.
During that period, BlackRock’s ETF led all U.S. issuers by buying approximately 5,347 BTC, valued at roughly $450.18 million. In contrast, Fidelity reduced its exposure by selling around 2,010 BTC. Bitwise divested about 463 BTC, while Grayscale trimmed holdings by approximately 354 BTC. ARK 21Shares and Morgan Stanley-related products contributed net purchases, with 306 BTC and 112 BTC bought respectively.
Ethereum ETFs experienced a net outflow of $138.02 million for the week, with Fidelity’s FETH accounting for $74 million. The sector saw total sales of around 43,974 ETH in the U.S. ETF market, as estimated by Crypto Patel. Fidelity products sold about 27,578 ETH, while Grayscale cut its position by roughly 14,605 ETH. VanEck shed approximately 2,570 ETH and Franklin-linked offerings disposed of about 2,272 ETH, offset by minor Ethereum acquisitions from BlackRock and ARK 21Shares.
Mini dictionary: Grayscale, one of the largest digital asset managers, operates investment products offering exposure to cryptocurrencies through traditional financial channels, including the well-known Grayscale Bitcoin Trust (GBTC).
| ETF Provider | Bitcoin ETF Change (BTC) | Ethereum ETF Change (ETH) |
|---|---|---|
| BlackRock | +5,347 | Minor purchases |
| Fidelity | -2,010 | -27,578 |
| Bitwise | -463 | – |
| Grayscale | -354 | -14,605 |
| ARK 21Shares | +306 | Minor purchases |
| Morgan Stanley-linked | +112 | – |
| VanEck | – | -2,570 |
| Franklin-linked | – | -2,272 |
Bitcoin’s steady October start
CryptoQuant’s records show Bitcoin usually struggles during early October, with an average price decline over the first three days each year. This year, the cryptocurrency moved against this trend, maintaining higher prices and setting what observers describe as a resilient market tone.
The ETF data for the week revealed a split: Bitcoin products achieved $241.09 million in inflows, while Ethereum-focused funds lost $138.02 million. Both Hupzy and Crypto Patel confirmed this divergence.
While this strong start does not guarantee Bitcoin will continue its gains throughout the month, early October performance has surprised market followers who expected typical seasonal weakness.
