Bitcoin ETFs draw $997.4 million in five sessions; OCC finalizes stablecoin rule
The OCC finalized its GENIUS Act stablecoin rule on Oct. 21, and Strategy added 267 bitcoin, lifting its holdings to 848,517 bitcoin as of Oct. 18.
- U.S. spot bitcoin ETFs drew a net $997.4 million in five sessions from Oct. 15 to Oct. 21, according to Farside.
- The OCC's final GENIUS Act rule takes effect Jan. 18, 2027 and leaves anti-money laundering rules to a separate Treasury rulemaking.
- The Fed decides on Oct. 28, and Coinbase reports third-quarter results on Oct. 29, after the market close.
U.S. spot bitcoin ETFs drew a net $997.4 million in five sessions in the week of Oct. 15-21, after $228.4 million of outflows on Oct. 12-16, according to Farside Investors.
Spot bitcoin ETFs reverse a $228.4 million outflow with $997.4 million of net inflows
Four of the five sessions brought net inflows, according to Farside Investors' flow table.
Daily totals were +$5.1 million on Oct. 15, -$82.4 million on Oct. 16, +$526.7 million on Oct. 19, +$23.2 million on Oct. 20 and +$524.8 million on Oct. 21.
BlackRock's iShares Bitcoin Trust (IBIT) took in $875.1 million of the total, or 87.7% (our calculation), including $665.2 million on Oct. 19 and $235.0 million on Oct. 21.
Ether funds moved the other way. Spot ether ETFs lost $103.3 million on Oct. 19, according to CryptoTicker.
The price did not follow the flows at once. Bitcoin fell 0.2% on Oct. 19, the day of the $526.7 million inflow, then rose 1.3% on Oct. 20 (our calculation).
Bitcoin closes at $82,940 on Oct. 20, up 1.7% from Oct. 14, after a $79,680 low
Bitcoin closed at $81,570 on Oct. 14 and at $82,940 on Oct. 20, a gain of 1.7% (our calculation), according to Twelve Data's Coinbase series, which runs on UTC days.
The range from Oct. 15 to Oct. 20 ran from a low of $79,680 on Oct. 15 to a high of $83,340 on Oct. 20, a spread of $3,660 (our calculation).
Bitcoin traded at $83,388 at 8:00 a.m. ET on Oct. 21, according to Bitcoin News Digest, which did not name the exchange.
The same report put the 10-year Treasury yield at 5.12% at the close on Oct. 20 and the odds of an October Fed rate hike at 15.5%, per CME FedWatch.
The Oct. 21 daily bar was still open when the price pages were read, so the weekly change uses the Oct. 20 close, the last complete day.
The OCC finalizes its GENIUS Act stablecoin rule, effective Jan. 18, 2027
The Office of the Comptroller of the Currency (OCC) issued the final rule on Oct. 21. It covers permitted and foreign payment stablecoin issuers under its jurisdiction and certain custody activities, according to its news release.
Comptroller Jonathan Gould said on Oct. 21: "We are providing a clear, practical framework for payment stablecoin innovation."
The rule leaves Bank Secrecy Act, anti-money laundering and sanctions requirements to a separate rulemaking with the Treasury Department, the release said. The OCC will announce separately when it accepts issuer applications.
On rewards, the OCC declined to presume that programs predating the law comply, according to Genfinity. The final text also drops a proposed presumption about affiliate and third-party arrangements.
Drift exploiter sends about $109 million in ether through Tornado Cash
Wallets tied to the April 1 Drift Protocol exploit sent about 44,510 ETH, roughly $109 million, to the Tornado Cash mixer on Oct. 20 and Oct. 21, according to Onchain Lens data cited by crypto.news.
Trackers disagreed on the Oct. 20 amount. Lookonchain counted 25,700 ETH, about $61.6 million, while Salus counted 19,600 ETH, according to Cryptonomist.
Arkham data cited by crypto.news showed 56,569 ETH, about $138 million, still in tracked exploiter wallets. The outlet's own estimate a day earlier was 81,454 ETH, about $194 million.
A mixer deposit alone does not show that the ether was cashed out, the outlet noted.
Strategy adds 267 bitcoin and holds 848,517, according to its filing
Strategy Inc. (MSTR) bought 267 bitcoin for $22.1 million between Oct. 12 and Oct. 18, at an average price of $82,900, according to its Form 8-K.
Holdings reached 848,517 bitcoin on Oct. 18 at an aggregate cost of $64.02 billion, an average of $75,446 a coin, the filing shows.
The company funded the purchase mostly with $22.0 million from selling 140,872 common shares. It sold no preferred stock in the period.
The week's average price of $82,900 sits 9.9% above the company's overall average of $75,446 (our calculation).
The week in numbers
| Asset | Level | Change | Source |
|---|---|---|---|
| Bitcoin, UTC close Oct. 20 | $82,940 | +1.7% our calculation | Twelve Data |
| Spot bitcoin ETF net flows, Oct. 15-21 | +$997.4 million | vs -$228.4 million, Oct. 12-16 | Farside Investors |
| IBIT net flows, Oct. 15-21 | +$875.1 million | 87.7% of total our calculation | Farside Investors |
| Strategy bitcoin holdings, Oct. 18 | 848,517 bitcoin | +267 bitcoin | SEC filing |
| Drift ether sent to Tornado Cash | 44,510 ETH | Oct. 20-21 | crypto.news |
As of Oct. 21. Bitcoin change is our calculation from the UTC closes on Oct. 14 and Oct. 20. ETF flows are sums of daily figures for Oct. 15, 16, 19, 20 and 21.
The Fed on Oct. 28, Coinbase on Oct. 29 and Circle on Nov. 4 set the next tests
- Oct. 28: the Federal Reserve announces its decision at 2 p.m. ET, with the target range at 3.75%-4.00% after a September hike, according to CryptoTicker.
- Oct. 29: Coinbase reports third-quarter results after the market close, with a live Q&A at 2:00 p.m. PT, according to its announcement.
- Nov. 4: Circle Internet Group reports third-quarter results, with a webcast at 8 a.m. ET, according to its press release.
- Jan. 18, 2027: the OCC rule and the GENIUS Act take effect, per the OCC.
How we reported this: Flows sum Farside's daily figures; IBIT share is 875.1 / 997.4. Bitcoin change is 82.94 / 81.57 - 1, using Twelve Data's UTC closes, rounded to thousands. Drift tracker amounts vary.