Bitcoin ETFs shed $643m in biggest daily outflow since June

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.

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The latest daily exit narrowly surpassed the $635.6 million withdrawn on Oct. 22.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.