U.S. spot Bitcoin ETFs have recorded $643.2 million in net outflows on Oct. 30, their largest daily withdrawal since June, wiping out four consecutive sessions of inflows and leaving the week in the red.
Summary
- BlackRock’s IBIT led Friday’s withdrawals with $233.7 million, followed by Fidelity and ARK 21Shares.
- Bitcoin ETFs finished Oct. 26–30 with $202.4 million in net outflows after four positive sessions.
- Ether funds lost $155.7 million on Friday, bringing their October withdrawals to approximately $1.61 billion.
- Cumulative net inflows into U.S. Bitcoin ETFs remained above $57 billion despite the latest selling.
According to Farside Investors, Fidelity’s FBTC lost $201 million, and ARK 21Shares’ ARKB shed $129.5 million during the final trading session of October. Grayscale’s GBTC recorded $53.3 million in withdrawals, while investors pulled $25.7 million from Bitwise’s BITB.
Together, BlackRock, Fidelity and ARK 21Shares accounted for $564.2 million, or roughly 87.7%, of the day’s net withdrawals. None of the other seven Bitcoin products in the table recorded a positive flow.
Bitcoin ETF withdrawals erase the week’s buying
Before Friday’s reversal, the funds had collected $440.8 million across Oct. 26–29, as crypto.news previously reported. Daily inflows started at $110.3 million on Monday, reached $176 million on Tuesday and totaled $137.3 million on Wednesday before slowing to $17.2 million on Thursday.
Friday’s withdrawals exceeded that four-day intake by $202.4 million, turning what had been a positive week into a losing one. The preceding week, Oct. 19–23, had ended with $301.2 million in net inflows.
BlackRock still finished the latest five-session period with a positive balance. IBIT attracted $410.6 million over the first four days, leaving it with $176.9 million in weekly inflows after Friday’s redemptions.
Fidelity moved in the opposite direction. Its $35 million intake earlier in the week was followed by Friday’s $201 million withdrawal, producing a $166 million weekly outflow. ARKB had no flows during the first four sessions, so its Friday withdrawal accounted for its entire weekly loss.
The latest daily exit narrowly surpassed the $635.6 million withdrawn on Oct. 22. Farside’s historical table shows a larger $691.7 million withdrawal on June 25.
October ends negative despite BlackRock’s monthly inflows
Adding Farside’s rounded daily totals puts October’s Bitcoin ETF net outflow at $515.9 million. Before the final session, the month had still been positive by $127.3 million.
Across the same period, IBIT attracted $932.1 million, while the remaining Bitcoin funds collectively lost approximately $1.45 billion. Friday therefore reduced BlackRock’s monthly intake without eliminating it.
The split between issuers was visible before the latest sell-off. A separate tally of the 30 calendar days through Oct. 26 showed $254.7 million leaving Bitcoin ETFs even as IBIT took in $961.9 million. Fidelity lost $725 million during that earlier reporting window.
Since their January 2024 debut, U.S. Bitcoin ETFs have accumulated $57.048 billion in net inflows, according to Farside. IBIT’s cumulative intake stood at $66.31 billion, while GBTC had recorded $28.049 billion in net withdrawals.
Ether ETFs lose $431.4 million over five sessions
Farside’s Ethereum table recorded $155.7 million in Friday withdrawals, taking the combined Bitcoin and Ether daily outflow to $798.9 million.
BlackRock’s ETHA lost $76.6 million, followed by $34.1 million from Grayscale’s Ethereum Mini Trust and $21.5 million from its ETHE product. BlackRock’s ETHB shed $19.5 million, Fidelity’s FETH lost $3.3 million and Morgan Stanley’s MSSE recorded $700,000 in withdrawals.
Ether funds finished every session of Oct. 26–30 negative. Their weekly withdrawals totaled $431.4 million, compared with $220.7 million during the previous five-session period.
Across October, their rounded daily totals add up to $1.6072 billion in net outflows. Selling had persisted earlier in the month, including $320.1 million in withdrawals during Oct. 12–16.
Bitcoin trades below Glassnode’s ETF cost estimate
Bitcoin traded near $77,364 on Oct. 31, according to CoinGecko, after reaching a 24-hour low of $76,337.84.
In its Oct. 28 report, Glassnode estimated the average purchase price of Bitcoin held by U.S. spot ETFs at $81,500. The firm put the average cost basis of active investors, its True Market Mean measure, at $77,900.
Glassnode’s Frederik Theissen described ETF trading as subdued before Friday’s withdrawals. Daily turnover had averaged approximately $1.3 billion since May and fell to $700 million on Oct. 23, among the quietest sessions of the year in its dataset.
