TLDR
- On October 30, Bitcoin ETF outflows hit $643.2 million, wiping out four days of inflows and pushing October’s totals into negative territory.
- Although Friday’s withdrawals were led by BlackRock’s IBIT, the fund still wrapped up the month with $932.1 million in net inflows.
- Ether funds experienced selling pressure as well, pushing combined withdrawals for Bitcoin and Ether ETFs close to $799 million during the session.
Bitcoin ETF outflows wrapped up October with a sharp reversal, though the headline redemption figure masks a major disparity between BlackRock and its rivals.
According to flow data from Farside Investors, U.S. spot Bitcoin funds suffered $643.2 million in net redemptions on October 30. This sell-off canceled out the inflows recorded over the previous four sessions, driving both the weekly and monthly tallies into the red.
Grabbing the largest single-fund withdrawal on Friday was BlackRock’s iShares Bitcoin Trust (IBIT). Even so, it maintained a positive stance across both tracking periods, highlighting how fragmented market demand has become.
Ultimately, the outcome presents investors with two distinct signals: a widespread retreat heading into month-end alongside ongoing monthly net inflows for the premier Bitcoin ETF.
Bitcoin ETF Outflows Reverse Four Days of Buying
The withdrawals seen on Friday came on the heels of $440.8 million in combined inflows accumulated between October 26 and October 29.
The week kicked off with $110.3 million on Monday, followed by $176 million on Tuesday and $137.3 million on Wednesday. Momentum then cooled to $17.2 million on Thursday before the final session reversed those gains.
Bitcoinist previously highlighted the Bitcoin ETF rebound that generated $176 million on Tuesday, but Friday’s figures demonstrate how rapidly that recovery faded.
During the final session, IBIT posted $233.7 million in net withdrawals, followed by Fidelity’s FBTC at $201 million, and ARK 21Shares’ ARKB at $129.5 million.
Together, these three products accounted for roughly 87.7% of the day’s total net outflows. Meanwhile, Grayscale’s GBTC dropped another $53.3 million, and Bitwise’s BITB shed $25.7 million.
None of the remaining Bitcoin products listed in Farside’s data table posted positive flows for the session.
As a result of these exits, the funds logged a weekly net outflow of $202.4 million. This marked the steepest daily exit since June, outpacing the $635.6 million pulled out on October 22.
Despite this, BlackRock managed to hold onto a positive weekly balance. IBIT had brought in $410.6 million throughout the first four sessions, leaving it with $176.9 million in net inflows even after Friday’s sell-off.
Fidelity closed the week facing $166 million in net withdrawals, while ARKB’s Friday outflow of $129.5 million accounted for its entire weekly decline.
These differences are significant because an aggregate outflow figure does not imply that every fund shared identical demand trends throughout the week.
BlackRock’s Positive October Highlights the Divide
Monthly metrics make this division even more apparent.
Based on crypto.news’ evaluation of October’s ETF flows, rounded daily aggregates put Bitcoin ETF outflows at $515.9 million for the month. Prior to the final trading day, October had stayed in positive territory by $127.3 million.
In contrast, IBIT closed October with $932.1 million in net inflows. The remaining Bitcoin funds collectively shed roughly $1.45 billion in net withdrawals.
Consequently, Friday’s activity trimmed BlackRock’s monthly gains without eliminating them.
While the statistics do not clarify investors’ motivations for redeeming shares—nor whether capital exiting one vehicle flowed into another—they do illustrate concentrated demand, with BlackRock securing net capital during a month when the broader category shrank.
This contrast aligns with our coverage regarding shifts in ownership among long-term Bitcoin ETF investors. While daily flows track subscriptions and redemptions, ownership studies shed light on the diverse investor profiles active in the market.
Selling pressure also spilled over into Ether products. These funds registered $155.7 million in withdrawals on Friday, pushing the combined Bitcoin and Ether ETF outflows to $798.9 million.
Ether funds finished every session of the October 26–30 period in the negative, racking up weekly withdrawals of $431.4 million. Their net outflows for October reached approximately $1.61 billion.
Even with the most recent round of selling, cumulative net inflows into U.S. spot Bitcoin ETFs have hovered around $57.05 billion since their inception in January 2024.
Although the month-end turnaround is substantial, it fails to wipe out that amassed capital or predict future trends. Upcoming sessions will reveal whether redemptions persist and if BlackRock can sustain enough demand to cushion against selling elsewhere.
The defining theme of October remains clear: Bitcoin ETFs finished the month shedding capital overall, yet IBIT still managed to pull in nearly $1 billion.
Written by
Yuki Yamamoto
