BlackRock and Fidelity led the October 30 redemptions, erasing a four-day inflow streak in a single session
US spot Bitcoin ETFs saw $643 million in net outflows on October 30. Spot Ethereum ETFs lost another $156 million on the same day.
The timing stings. Bitcoin funds had just wrapped up four straight days of inflows, and one bad Thursday undid all of it with room to spare.
Who led the exits
BlackRock’s iShares Bitcoin Trust (IBIT) was the largest single contributor to the Bitcoin outflow. It accounted for approximately $234 million of the total.
Fidelity’s Wise Origin Bitcoin Fund (FBTC) was close behind, with around $201 million heading out the door. The rest of the redemptions were spread across the other spot Bitcoin products.
On the Ethereum side, BlackRock again topped the list. Its iShares Ethereum Trust (ETHA) recorded an outflow of about $76.6 million out of the $156 million total.
A streak that didn’t last
From October 26 to October 29, spot Bitcoin ETFs pulled in net inflows over four trading days. Tallies put that run at roughly $424 million to $441 million.
Then October 30 arrived. A single session of $643 million in outflows more than wiped out the entire four-day gain.
Zooming out, the outflow is meaningful but not catastrophic relative to the size of the category. Total net assets across US spot Bitcoin ETFs have ranged between $98 billion and $104 billion.
Cumulative net inflows since the products launched in January 2024 stand at approximately $57 billion. A $643 million day is a dent, not a demolition.
Ethereum products operate on a smaller scale. They hold approximately $13 billion to $14 billion in total assets, with cumulative inflows of around $12 billion.
That scale difference matters. A $156 million outflow takes a proportionally bigger bite out of the Ethereum ETF pool than $643 million takes from the Bitcoin side.
The Binance backdrop
The outflows landed one day after a serious security incident at Binance. On October 29, the exchange reported unauthorized withdrawals of approximately $6.3 billion.
That incident may have helped trigger the ETF redemptions. Exchange security scares tend to spook investors across the market, even those who never touch the affected platform.
ETF holders don’t keep coins on Binance. Their exposure runs through regulated funds and institutional custodians, which is a big part of why many investors chose ETFs in the first place.
Other explanations are also on the table. The pullback could reflect profit-taking after the inflow streak, or routine risk management heading into the end of October.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
