Bitcoin News Today: Bitcoin ETFs Rally as Ethereum ETFs Bleed in Macro-Driven Shift

Bitcoin spot ETFs absorbed $20.33 million in inflows on October 23, while Ethereum products hemorrhaged $127.47 million, reflecting a shift in investor sentiment amid escalating U.S.-China trade tensions and anticipation of U.S. inflation data, according to a CryptoNews report. The divergence underscores growing demand for Bitcoin as a hedge against macroeconomic uncertainty, with BlackRock's iShares Bitcoin Trust (IBIT) leading the charge with $107.78 million in inflows, the CryptoNews piece added. Fidelity's FBTC and Bitwise's BITB added $7.22 million and $17.41 million, respectively, though Grayscale's GBTC faced a $60.49 million outflow, its largest single-day withdrawal, the report noted.

The total net asset value of U.S.-listed Bitcoin ETFs now stands at $149.43 billion, with BlackRock dominating the sector with $88.87 billion in assets under management, the CryptoNews report said. Meanwhile, Ethereum ETFs extended their losing streak, with Fidelity's FETH recording $77.04 million in outflows and BlackRock's ETHA losing $23.31 million, the report added. The rotation between the two asset classes highlights investor caution in a volatile market environment.

Bitcoin's price action mirrored the ETF trends, trading near $111,478 as bulls eye a potential push toward $115,000, according to a Crypto.news article. The cryptocurrency's recent recovery followed a $101.3 million outflow from ETFs on October 22, illustrating the choppy sentiment driving capital flows, the article reported. In contrast, Ethereum's underperformance—despite a 5.63% market cap share—signals ongoing skepticism about its short-term prospects, the CryptoNews report observed.

Amid these dynamics, new projects are capturing attention. Biokript Pro, a decentralized exchange (DEX) on Solana, announced a partnership with Microsoft and the integration of patented on-chain risk management tools, according to a Business Insider report. The platform, which offers stop-loss protections and rug-pull prevention, is positioning itself as a solution to persistent DeFi challenges, the Business Insider article noted. Its BIOK token presale, set to conclude in mid-November, has drawn interest amid a market shift toward utility-driven projects, the report added.

Meanwhile, BlockDAG (BDAG) has raised over $430 million in its presale, leveraging a hybrid DAG + Proof-of-Work design to process 1,400 transactions per second, according to a Coinrise report. The project's testnet advancements and Binance AMA event on October 24 have positioned it as a scalability contender ahead of Web3's next phase.

Regulatory clarity is also fueling momentum. tZero Group, a tokenization platform, plans a 2026 IPO as U.S. regulations evolve, according to a Cointelegraph report. CEO Alan Konevsky noted the company's focus on asset tokenization to streamline capital formation and cross-border transactions. Similarly, IPO Genie ($IPO) is disrupting private market investing by tokenizing access to high-growth startups, as reported in a LiveBitcoinNews piece. The platform's presale offers accredited investors a gateway to AI, fintech, and DeFi opportunities, leveraging blockchain to eliminate traditional barriers.

The crypto landscape remains bifurcated: Bitcoin ETFs draw inflows amid macro risks, while Ethereum struggles to regain traction. Yet innovation in DeFi security, scalability solutions, and tokenized private markets is reshaping the sector. As regulatory frameworks solidify and institutional adoption accelerates, projects like Biokript Pro, BlockDAG, and IPO Genie are poised to redefine the next chapter of crypto's evolution.