At the start of October, several developments in the crypto market drew attention. Bitcoin ETFs recorded $103 million in net inflows, while Ethereum ETFs saw three consecutive days of net outflows; weak U.S. employment data pushed down Treasury yields, and Bitcoin briefly touched $87,000; the IMF approved a $138 million disbursement for El Salvador and asked it to continue reducing Bitcoin involvement; Blast announced the shutdown of its Ethereum L2 network and urged users to migrate assets to the mainnet; BNB Chain tokenized assets surpassed $1 billion, accounting for about 30% of the RWA market. These developments span funding conditions, macro factors, policy, ecosystem, and asset trends, collectively forming multiple information threads for the crypto industry at the start of October.
On ETF flows, Bitcoin ETFs recorded $103 million in net inflows at the start of October, while Ethereum ETFs posted net outflows for three consecutive days. The source material did not disclose the outflow amount for Ethereum ETFs, but outflows persisted for three straight trading days, contrasting with the single-day net inflow for Bitcoin ETFs. Bitcoin ETF flows are viewed in the source material as a core indicator of market sentiment; the net inflow occurred early in the month, and Ethereum's consecutive net outflows were seen as having relatively strong market-direction significance. For the market, the divergence on the ETF side means capital moved in different directions between BTC and ETH, with BTC's ETF funding picture relatively stronger than ETH's in the short term. This was also one of the first funding signals to attract attention in the crypto market at the start of October.
On macro data, weak U.S. employment data pushed Treasury yields lower, and Bitcoin briefly touched $87,000. The source material attributed this move to U.S. employment data and Treasury yields and viewed it as an important market move reflecting the linkage between mainstream assets and macro factors. Current information only confirms that Bitcoin briefly touched $87,000; it does not provide data on whether that level held, the subsequent trading range, or volume. The specific components of the employment data and the extent of the yield move were also not disclosed in the source material. Therefore, what can be confirmed is the temporal relationship among weak U.S. employment data, lower Treasury yields, and Bitcoin briefly touching $87,000, while it would be inappropriate to infer further about its sustainability.
On policy and international finance, the IMF approved a $138 million disbursement for El Salvador while requiring it to continue reducing Bitcoin involvement. The event links a sovereign country's crypto policy to an international financial organization's funding arrangement. According to the source material, the IMF's approval of the disbursement was not detached from Bitcoin policy conditions, and reducing Bitcoin involvement remains a requirement El Salvador must face. This development involves the influence of an international financial organization on a country's crypto policy and is relevant to the regulatory narrative. The source material did not disclose specific condition details, an implementation timetable, or further response from El Salvador, but it can be confirmed that the disbursement amount was $138 million and that the requirement to reduce Bitcoin involvement continues to exist.
On the Ethereum ecosystem, Blast announced the shutdown of its Ethereum L2 network and urged users to migrate assets to the mainnet. The source material shows that Blast was once a leading Ethereum L2, and the shutdown is related to profitability pressure, with costs exceeding revenue. The decision has a direct impact on the ecosystem and user asset migration: users need to migrate assets according to the project team's guidance, and the shutdown of a leading L2 project also reflects pressure on the L2 sector's profit model. The source material did not disclose the specific timing of the shutdown, the scale of affected assets, or the migration deadline, so what can currently be confirmed is the shutdown decision, the migration requirement, and the background of costs exceeding revenue.
On the RWA sector, BNB Chain tokenized assets surpassed $1 billion, accounting for about 30% of the RWA market. According to the source material, this share indicates that BNB Chain has established a certain scale in tokenized assets, and the RWA sector as a whole has grown significantly. For industry trends, the rise in tokenized asset scale is an observation signal for the combination of on-chain assets and traditional assets; for platform competition, BNB Chain's roughly 30% market share indicates its relative position in the RWA field. The source material did not provide the statistical methodology, time range, or specific project composition, so what can be confirmed is the $1 billion scale, the roughly 30% share, and the judgment that the RWA sector has grown significantly.
Overall, the crypto market at the start of October was not driven by a single event but saw dynamics across multiple levels at the same time. Net inflows into Bitcoin ETFs and three consecutive days of net outflows from Ethereum ETFs constituted a divergence on the funding side; weak U.S. employment data pushed Treasury yields lower, bringing macro price linkage; the IMF approved a disbursement for El Salvador and required continued reduction of Bitcoin involvement, creating attention at the policy and international finance levels; Blast's shutdown of its Ethereum L2 network affected the ecosystem and asset migration; BNB Chain tokenized assets surpassing $1 billion reflected changes in the RWA sector. The source material does not prove that these events share the same causal chain, but their concentration within the same time window raised market attention to funding conditions, macro factors, policy, the L2 ecosystem, and RWA trends.
Looking ahead, several areas warrant attention: whether Bitcoin ETF net inflows can continue and whether Ethereum ETF consecutive net outflows reverse; whether changes in U.S. employment data and Treasury yields continue to affect Bitcoin's price and how it performs around $87,000; whether Bitcoin involvement is further adjusted in the subsequent implementation between El Salvador and the IMF; user asset safety and the L2 ecosystem's response during Blast's asset migration; and whether BNB Chain's tokenized asset share can be maintained or changes. This article is based only on disclosed information and does not constitute market forecasting or investment advice.
