U.S. spot Bitcoin ETFs recorded net outflows of $643.2 million on Oct. 30, marking their largest daily withdrawal since June and erasing gains from four consecutive sessions of inflows to leave the week in the red. BlackRock's IBIT fund led these withdrawals with an outflow of $233.7 million, followed by Fidelity and ARK 21Shares.
Bitcoin ETFs concluded the period from Oct. 26–30 with a cumulative net outflow of $202.4 million following four positive trading sessions. During this same timeframe, Ether funds experienced losses totaling $155.7 million on Friday, which contributed to their October withdrawals reaching approximately $1.61 billion, while cumulative net inflows into U.S. Bitcoin ETFs remained above $57 billion despite the recent selling pressure.
Major Issuers Drive Record Withdrawals
Farside Investors data indicates that the closing hours of October witnessed substantial capital leaving prominent Bitcoin exchange-traded funds, with Fidelity's FBTC experiencing a $201 million decline and ARK 21Shares' ARKB dropping $129.5 million. Grayscale's GBTC saw $53.3 million exit the fund, alongside a $25.7 million reduction for Bitwise's BITB. The combined outflows from BlackRock, Fidelity, and ARK 21Shares reached $564.2 million, representing approximately 87.7% of total daily net withdrawals, while no other seven Bitcoin products listed in the table posted any positive flow.
In contrast to Friday's downturn, capital accumulation occurred earlier in the month between Oct. 26 and Oct. 29, totaling $440.8 million as noted by prior reporting from the report. The weekly trend began with Monday inflows of $110.3 million, climbed to $176 million on Tuesday, accumulated $137.3 million by Wednesday, and then decelerated to $17.2 million on Thursday.
Friday's net outflows surpassed the previous four-day intake by $202.4 million, reversing a prior week that had concluded with $301.2 million in inflows during Oct. 19–23. BlackRock maintained a positive weekly balance despite Friday's redemptions, as its IBIT fund attracted $410.6 million over the first four days before ending the five-session period with $176.9 million in net inflows.
Fidelity shifted direction after an earlier $35 million intake, recording a $201 million withdrawal on Friday that resulted in a total weekly outflow of $166 million. ARK 21Shares saw no activity during the first four sessions, meaning its Friday withdrawal represented its entire weekly loss.
Farside's historical data indicates that the most recent daily exit narrowly exceeded the $635.6 million withdrawn on Oct. 22, while a larger withdrawal of $691.7 million occurred on June 25. When adding Farside's rounded daily totals to the record, October's Bitcoin ETF net outflow reached $515.9 million, whereas before the final session the month had remained positive by $127.3 million.
During the same period, IBIT attracted $932.1 million as the remaining Bitcoin funds collectively lost approximately $1.45 billion, meaning Friday reduced BlackRock's monthly intake without eliminating it. A separate tally covering 30 calendar days through Oct. 26 showed $254.7 million leaving Bitcoin ETFs even as IBIT took in $961.9 million, a window during which Fidelity lost $725 million.
According to Farside data, U.S. Bitcoin ETFs have accumulated $57.048 billion in net inflows since their January 2024 debut, while IBIT's cumulative intake reached $66.31 billion and GBTC recorded $28.049 billion in net withdrawals. On Friday, Farside's Ethereum table showed $155.7 million in withdrawals, which contributed to a combined Bitcoin and Ether daily outflow of $798.9 million.
Ether funds posted negative results for every session between Oct. 26 and Oct. 30, with weekly withdrawals totaling $431.4 million compared to $220.7 million during the prior five-session period. Specific fund flows included BlackRock's ETHA losing $76.6 million, Grayscale's Ethereum Mini Trust shedding $34.1 million, and ETHE recording $21.5 million in withdrawals. Additionally, BlackRock's ETHB shed $19.5 million, Fidelity's FETH lost $3.3 million, and Morgan Stanley's MSSE recorded $700,000 in withdrawals.
Weekly Reversal Turns Month Negative
Throughout October, cumulative daily net outflows reached $1.6072 billion, with selling pressure evident earlier in the month, notably during the period of Oct. 12–16 when withdrawals amounted to $320.1 million. CoinGecko data indicates that Bitcoin was trading near $77,364 on Oct. 31, having previously hit a 24-hour low of $76,337.84.
According to Glassnode's Oct. 28 report, the average purchase price for Bitcoin held by U.S. spot ETFs was estimated at $81,500, while the firm's True Market Mean measure placed the average cost basis of active investors at $77,900. Frederik Theissen of Glassnode characterized ETF trading as subdued prior to Friday's withdrawals, noting that daily turnover averaged roughly $1.3 billion since May before dropping to $700 million on Oct. 23, a figure representing one of the quietest sessions in the firm's dataset.