Bitcoin spot exchange-traded funds recorded net inflows of $526.7 million on Oct. 20, the biggest inflow in about a month.

Blockchain media outlet Cointelegraph reported that a trend of weekly net outflows for two consecutive weeks reversed in a single day. The inflow was the largest since Sept. 22, when $714.7 million flowed in. On Oct. 17, the previous trading day, the funds recorded net outflows of $82.4 million. Large inflows returned this time, suggesting short-term investor sentiment has revived.

Inflows were led by BlackRock's iShares Bitcoin Trust (IBIT). IBIT took in $665.2 million in one day, exceeding the total net inflow for all ETFs. Fidelity's Wise Origin Bitcoin Fund (FBTC) saw $83.6 million flow out, and Grayscale Bitcoin Trust (GBTC) posted net outflows of $54.9 million. Other products had no net inflows or outflows.

On a monthly basis, the trend has not fully turned. Bitcoin spot ETFs remain at net outflows of about $88 million on a cumulative basis for October. About $229 million flowed out last week, following net outflows of $681 million the week before. On Oct. 7, $483.9 million flowed out in a single day, marking the biggest daily outflow since June.

Fund flows in the market also diverged between bitcoin and ethereum ETFs. Ethereum spot ETFs recorded net outflows of $103.3 million on Oct. 20, including $95.4 million from BlackRock's iShares Ethereum Trust (ETHA) alone. Ethereum spot ETFs also posted net outflows of about $320 million last week, extending fund withdrawals to three consecutive weeks.

The latest figures show bitcoin spot ETFs produced a short-term rebound signal, but they also confirmed inflows were concentrated in some products. IBIT's inflow exceeded the total net inflow, while funds flowed out of FBTC and GBTC, highlighting a clear gap among products.

The next point to watch is whether the rebound in bitcoin spot ETFs will remain a temporary recovery or lead to a shift to weekly net inflows. At the same time, how long the run of outflows in ethereum spot ETFs continues is expected to be an indicator for gauging shifts in institutional fund preferences.