Bitcoin products draw $175.7 million after one-day outflow

U.S. spot bitcoin exchange-traded products recorded an estimated $175.7 million of net inflows during the October 13 trading session, reversing the $65.4 million withdrawn one session earlier, according to Farside Investors’ completed table reviewed October 14.

The reversal matters because these products are a major regulated channel for gaining bitcoin exposure through brokerage accounts. It also narrows the signal from a volatile market: demand returned in the primary market Tuesday, but the result covers only one U.S. session and does not prove that a sustained allocation cycle has begun.

Three products supplied the entire inflow

Fidelity’s FBTC led the October 13 estimate with $103.1 million, followed by BlackRock’s IBIT with $65.9 million and Morgan Stanley’s MSBT with $6.7 million. Farside displayed zero net flow for every other product in its table. Those three figures sum to the reported $175.7 million total.

Zero net flow does not mean that a fund had no trading activity. Exchange volume measures shares changing hands between investors, while daily net-flow estimates seek to capture creations and redemptions that change the amount of capital in a product. Buyers and sellers can trade existing shares without producing a net creation or redemption.

The October 12 and October 13 rows produce a calculated two-session net inflow of $110.3 million. That calculation uses Farside’s rounded daily figures and should not be treated as a more precise accounting measure. It also remains small relative to the estimated $484.9 million withdrawn on October 7, showing how quickly daily fund demand has changed during the past week.

Farside says its table updates automatically and warns that it may contain errors or inaccuracies. Daily estimates can also be revised as issuer information becomes available. The figures therefore describe the completed rows visible at Coinburn’s October 14 research cutoff, not an immutable record or a forecast for the next session.

Fund data show a positive Tuesday, not a causal verdict

BlackRock’s own IBIT page reported a $47.06 net asset value for October 13, up $0.35, or 0.74%, over one day. It listed a $47.13 closing share price and placed its CME CF Bitcoin Reference Rate–New York Variant benchmark at $83,140.61 for the same date.

Those measurements have different meanings. The benchmark is a defined end-of-day reference rate rather than a continuous global spot price, while IBIT’s share price can trade at a premium or discount to net asset value. BlackRock reported a 0.25% sponsor fee and cautioned that the trust is not registered under the Investment Company Act of 1940 like a conventional mutual fund or ETF.

Tuesday’s positive fund flow coincided with a higher IBIT net asset value, but the records do not establish causation. They do not identify the investors behind creations, their motives, whether allocations were tactical, or whether flows led the underlying market rather than responding to it.

Breadth will determine whether the turn persists

The next test is whether net creations continue across several sessions and broaden beyond three products. A single positive day following a single negative day is evidence of a reversal in the latest completed daily row—not evidence that institutional demand has permanently strengthened.

For now, the defensible conclusion is narrower: the U.S. product channel returned to net inflows on October 13, with Fidelity accounting for most of the intake and BlackRock supplying nearly all of the remainder. Subsequent issuer updates or revisions could alter the estimates.