Crypto ETF Outflows Reveal Two Different Patterns
Crypto ETF outflows reached approximately $635 million across U.S. spot Bitcoin and Ethereum funds during October 26–30. Reports citing SoSoValue placed Bitcoin withdrawals at $202.6 million and Ethereum withdrawals at $431.5 million, broadly matching the rounded figures circulating online.
However, the weekly totals hide an important difference. Bitcoin funds attracted money through Thursday before Friday’s withdrawals reversed the result. Ethereum funds experienced selling pressure throughout the week.
Calculations using Farside Investors’ Bitcoin flow table and its Ethereum flow table produce slightly different totals: $202.4 million and $431.4 million, respectively. The table below consistently uses Farside’s published daily figures. The small differences between trackers do not change the overall direction.
U.S. trading session | Bitcoin ETF net flows | Ethereum ETF net flows |
|---|---|---|
October 26 | +$110.3M | −$88.6M |
October 27 | +$176.0M | −$60.2M |
October 28 | +$137.3M | −$21.4M |
October 29 | +$17.2M | −$105.5M |
October 30 | −$643.2M | −$155.7M |
Weekly total | −$202.4M | −$431.4M |
Positive figures indicate net inflows; negative figures indicate net outflows. Weekly totals are calculated from the displayed daily data.
Fidelity Leads Bitcoin Withdrawals, but BlackRock Finishes Positive
Fidelity’s FBTC ended the week with $166 million in net outflows. BlackRock’s IBIT moved in the opposite direction, retaining $176.9 million in weekly net inflows despite Friday’s redemptions.
That split matters. The aggregate result shows weakening demand across the category, but individual issuers experienced different outcomes. It would be inaccurate to describe every Bitcoin ETF as losing money over the week.
Bitnxt’s earlier analysis of Bitcoin’s weakening October demand provides context for this uneven picture. A positive stretch can improve sentiment without establishing a lasting recovery.
Ethereum’s Pressure Was More Persistent
Ethereum’s withdrawals were more than twice Bitcoin’s in dollar terms. They also occurred across all five trading sessions, making the weakness less dependent on one unusually negative day.
There were exceptions within the category. Fidelity’s FETH attracted approximately $63.1 million over the week, while BlackRock’s ETHA recorded approximately $391.1 million in withdrawals, based on the daily figures.
Separately, reporting citing SoSoValue described the period as Ethereum ETFs’ fifth consecutive week of net outflows. That is a weekly streak; it should not be confused with five weeks of uninterrupted daily withdrawals.
The absolute dollar comparison also has limits. Assessing the relative severity of withdrawals requires comparing them with each category’s assets under management, rather than assuming the larger dollar figure tells the entire story.
Source: SosoValue
Bitnxt’s Take: Look for Sustained Demand Across More Funds
Our assessment is that Ethereum’s persistent withdrawals deserve attention, while Bitcoin’s abrupt Friday reversal makes the next several sessions especially informative.
A recovery would look more convincing if inflows returned across several issuers and continued beyond a single session. Repeated dependence on one fund would leave the broader picture fragile.
This follows the approach in Bitnxt’s earlier Uptober signals guide: assess ETF flows alongside spot activity, leverage and price structure. Fund flows are useful evidence, but they cannot establish every investor’s motive or predict the next market move.
Bitnxt’s coverage of XRP ETF inflows on October 29 also shows why readers should examine individual categories. Different assets can attract different responses during the same market environment. That alone does not prove investors transferred money directly between them.
For November, the practical question is whether buying becomes sustained and widespread enough to absorb withdrawals. One positive session would be encouraging; a consistent improvement would provide stronger evidence.
