U.S. spot Bitcoin ETFs recorded $643.2 million in net outflows on October 30, their largest single-day withdrawal since June. The withdrawals erased four straight sessions of inflows and pushed the week into negative territory.
Summary
- BlackRock’s IBIT led the withdrawals with $233.7 million, followed by Fidelity and ARK 21Shares.
- Bitcoin ETFs ended the October 26–30 period with $202.4 million in net outflows despite four positive sessions earlier in the week.
- Ethereum funds lost $155.7 million on Friday, bringing their total October outflows to around $1.61 billion.
- Despite the latest withdrawals, cumulative net inflows into U.S. Bitcoin ETFs remained above $57 billion.
According to Farside Investors, Fidelity’s FBTC recorded $201 million in outflows, while ARK 21Shares’ ARKB lost $129.5 million during the final trading session of October. Grayscale’s GBTC saw $53.3 million withdrawn, and Bitwise’s BITB recorded $25.7 million in outflows.
BlackRock, Fidelity, and ARK 21Shares accounted for a combined $564.2 million, or around 87.7% of the day’s total withdrawals. None of the other seven Bitcoin ETF products recorded positive flows.
Bitcoin ETF withdrawals wipe out the week’s gains
Before Friday’s sell-off, Bitcoin ETFs had attracted $440.8 million between October 26 and 29. Daily inflows started at $110.3 million on Monday, rose to $176 million on Tuesday, reached $137.3 million on Wednesday, and slowed to $17.2 million on Thursday.
Friday’s $643.2 million in withdrawals exceeded those four days of inflows by $202.4 million, turning the week negative. The previous week, from October 19 to 23, had ended with $301.2 million in net inflows.
BlackRock still finished the latest five-session period with positive net flows. Its IBIT fund attracted $410.6 million during the first four days, leaving it with $176.9 million in weekly inflows after Friday’s withdrawals.
Fidelity saw the opposite result. Its $35 million in earlier weekly inflows were more than offset by Friday’s $201 million withdrawal, leaving the fund with $166 million in weekly outflows.
ARKB recorded no flows during the first four sessions, meaning Friday’s $129.5 million withdrawal accounted for its entire weekly loss.
Friday’s withdrawals narrowly exceeded the previous daily outflow record of $635.6 million on October 22. However, Farside’s historical data shows an even larger withdrawal of $691.7 million on June 25.
Bitcoin ETFs finish October with net outflows
Based on Farside’s rounded daily figures, Bitcoin ETFs recorded approximately $515.9 million in net outflows during October. Before the final trading session, the funds were still showing $127.3 million in net inflows for the month.
During October, BlackRock’s IBIT attracted $932.1 million, while the other Bitcoin ETF funds collectively lost around $1.45 billion. Friday’s sell-off reduced BlackRock’s monthly total but did not erase its positive inflows.
The difference between issuers had already become clear before the latest withdrawals. Data covering the 30 days through October 26 showed $254.7 million leaving Bitcoin ETFs, even as IBIT attracted $961.9 million. Fidelity recorded $725 million in outflows during that period.
Since launching in January 2024, U.S. Bitcoin ETFs have accumulated $57.048 billion in net inflows, according to Farside. IBIT has attracted $66.31 billion in total net inflows, while Grayscale’s GBTC has recorded $28.049 billion in net withdrawals.
Ethereum ETFs lose $431.4 million in five sessions
Ethereum ETFs also faced heavy selling on Friday, recording $155.7 million in net outflows. Combined with Bitcoin ETF withdrawals, total daily outflows from both groups reached $798.9 million.
BlackRock’s ETHA led Ethereum fund withdrawals with $76.6 million. Grayscale’s Ethereum Mini Trust lost $34.1 million, while its ETHE product recorded $21.5 million in outflows.
BlackRock’s ETHB saw $19.5 million withdrawn, Fidelity’s FETH lost $3.3 million, and Morgan Stanley’s MSSE recorded another $700,000 in outflows.
Ethereum ETFs ended all five trading sessions from October 26 to 30 with negative flows. Their weekly withdrawals reached $431.4 million, compared with $220.7 million during the previous five-session period.
For October, Ethereum ETFs recorded approximately $1.6072 billion in net outflows based on Farside’s daily figures. Selling pressure had already been building earlier in the month, including $320.1 million in withdrawals between October 12 and 16.
Bitcoin trades below the average ETF purchase price
Bitcoin traded near $77,364 on October 31, after reaching a 24-hour low of $76,337.84, according to CoinGecko.
In its October 28 report, Glassnode estimated that the average purchase price of Bitcoin held by U.S. spot ETFs was around $81,500. The firm also placed its True Market Mean, which tracks the average cost basis of active investors, at $77,900.
Glassnode’s Frederik Theissen said ETF trading activity had been relatively quiet before Friday’s withdrawals. Daily trading volume had averaged around $1.3 billion since May but fell to $700 million on October 23, making it one of the quietest sessions of the year in the firm’s data.