Bitcoin News Today: Bitcoin ETFs Cement "Digital Gold" Narrative as Ethereum ETFs Face Outflows

Bitcoin ETF inflows surged to $90.6 million on October 24, driven by institutional demand and led by Fidelity's FBTC and BlackRock's IBIT, signaling renewed confidence in the cryptocurrency after a brief market correction, according to TradingNews. The inflows marked an end to a five-day outflow streak and propelled Bitcoin's price to $111,633, a 0.79% increase, as ETF assets under management (AUM) for Bitcoin spot products reached $149.96 billion. Fidelity's FBTC alone accounted for $57.92 million of the inflow, while BlackRock's IBIT absorbed $32.68 million, reinforcing the dominance of these firms in the institutional crypto space.

The momentum continued on October 28, with Bitcoin ETFs recording $202.48 million in inflows, though Ethereum ETFs outperformed with $246.02 million in net inflows, according to Coinpedia. Fidelity's FETH led Ethereum's inflows at $99.27 million, while BlackRock's ETHA added $76.37 million. However, the previous day, Ethereum ETFs had posted a net outflow of $126.26 million, with BlackRock's ETHA leading withdrawals of $106.53 million, as reported by Blockchain News. This volatility highlights the shifting dynamics between Bitcoin and Ethereum in institutional portfolios, with Bitcoin increasingly viewed as a stable store of value amid macroeconomic uncertainty, a trend noted in the earlier TradingNews coverage.

Bitcoin's price recovery—up nearly 8% from its October 11 low of $103,000—has been bolstered by ETF-driven liquidity. ETF holdings now represent 6.78% of Bitcoin's market capitalization ($1.49 trillion), compared to Ethereum's 5.55% of its $484.8 billion cap, figures highlighted in the TradingNews analysis. Analysts attribute this divergence to Bitcoin's deflationary supply model and its growing correlation with gold (0.76), reinforcing its "digital gold" narrative. Meanwhile, Ethereum's outflows suggest investors are rotating capital toward Bitcoin as a hedge against fiat devaluation and global rate cuts, another point raised by TradingNews.

Regulatory developments further underpin the ETF boom. The U.S. Securities and Exchange Commission (SEC) is reviewing 155 crypto ETF applications, including products for Bitcoin, Ethereum, and other assets, with approvals expected to accelerate post-government shutdown, the TradingNews piece noted. This regulatory clarity, coupled with the Federal Reserve's dovish policy outlook, has intensified institutional adoption. BlackRock's IBIT, with $89.17 billion in AUM, and Fidelity's FBTC, at $22.84 billion, now dominate the sector, reflecting a maturing market where digital assets are increasingly integrated into traditional portfolios, as detailed by TradingNews.

Market structure data also underscores ETFs' stabilizing effect. Bitcoin's daily volatility has dropped from 62% in July to 39% in October, while ETF price spreads between U.S. and European markets narrowed to under 0.2%, observations reported by TradingNews. Miners have benefited too, with profitability rising 11% week-over-week as ETF demand absorbs supply, curbing downward price pressure, another trend identified in the same TradingNews coverage.

Looking ahead, sustained inflows above $100 million daily could push Bitcoin toward $125,000–$130,000 by early November, provided regulatory and macroeconomic conditions remain favorable, according to TradingNews. However, Ethereum faces near-term headwinds, with analysts warning of potential price corrections amid outflows and competition from layer-2 solutions, a risk highlighted earlier by Blockchain News.