U.S. spot Bitcoin exchange-traded funds recorded $643.2 million in net outflows on Oct. 30, the largest daily withdrawal since June and enough to erase four consecutive sessions of inflows. BlackRock’s IBIT led the retreat with $233.7 million, followed by Fidelity’s FBTC at $201 million and ARK 21Shares’ ARKB at $129.5 million. Grayscale’s GBTC saw $53.3 million in redemptions, while Bitwise’s BITB lost $25.7 million; none of the other Bitcoin products recorded a positive flow.
Before Friday’s reversal, the funds had gathered $440.8 million across Oct. 26–29, with daily inflows of $110.3 million, $176 million, $137.3 million and $17.2 million. Friday’s withdrawals exceeded that four-day intake by $202.4 million, turning what had been a positive week into a losing one. The previous week ended with $301.2 million in net inflows.
Ethereum ETFs added to the selling pressure, losing $155.7 million on Friday. BlackRock’s ETHA accounted for $76.6 million of the withdrawals, Grayscale’s Ethereum Mini Trust lost $34.1 million, Grayscale’s ETHE shed $21.5 million, BlackRock’s ETHB lost $19.5 million, and Fidelity’s FETH recorded $3.3 million in outflows. Ether funds were negative in every session from Oct. 26–30, with weekly withdrawals totaling $431.4 million and October net outflows reaching approximately $1.61 billion.
The combined daily outflow across Bitcoin and Ethereum ETFs was $798.9 million. Despite the selling, U.S. Bitcoin ETFs have accumulated $57.048 billion in net inflows since their January 2024 launch, with IBIT’s cumulative intake at $66.31 billion. Glassnode previously estimated the average purchase price of Bitcoin held by U.S. spot ETFs at $81,500, while its True Market Mean measure for active investors stood at $77,900. Bitcoin traded near $77,364 on Oct. 31 after a 24-hour low of $76,337.84, according to CoinGecko.
