US spot Bitcoin ETFs recorded $442.62 million in net outflows, while spot Ethereum ETFs gave up $224.96 million over the same stretch.
The outflows landed during the week of October 19 to 23, 2026, a period of increased market volatility.
One bad Thursday did most of the damage
The worst of it came on October 22. Bitcoin ETFs saw a single-day outflow of about $635.5 million, the largest since June 2026.
That one session largely wiped out the gains the funds had collected earlier in the week.
Ethereum ETFs told a different story. Their $224.96 million in outflows was not a one-off spike. It extended a run of weekly outflows that has stretched across multiple weeks.
The big players, and the big picture
BlackRock’s iShares Bitcoin Trust (IBIT) sat at the center of the action. It led the category in both inflows and outflows during the period.
Fidelity was also among the key issuers seeing fluctuating participation.
IBIT has pulled in approximately $65 to $66 billion in net inflows since it launched.
Grayscale’s GBTC sits on the opposite end of the ledger. It has recorded around $28 billion in cumulative outflows.
Total assets in spot Bitcoin ETFs reached approximately $104 to $105 billion. Ethereum ETFs held around $14.5 billion.
Cumulative net inflows into Bitcoin ETFs since their debut remain positive, exceeding $57 billion. Against that backdrop, a $442.62 million weekly outflow represents well under 1% of the category’s total assets.
What this means for investors
Bitcoin and Ether ETFs are no longer moving in lockstep in terms of investor conviction. Bitcoin funds absorbed a heavy single-day hit but still sit on a large cushion of cumulative inflows. Ether funds are dealing with something more persistent.
A multi-week outflow streak suggests that some Ether ETF holders are reassessing their exposure rather than simply reacting to one volatile session.
The size gap between the two categories also matters. With Ethereum ETFs holding around $14.5 billion in total assets, a $224.96 million weekly outflow takes a proportionally bigger bite than Bitcoin’s larger outflow does from its roughly $104 to $105 billion base.
IBIT’s dominance means its flows can swing the entire category in either direction. When the biggest fund leads both inflows and outflows, the headline weekly number often tells you more about BlackRock’s clients than about the market as a whole.
The October 22 outflow, as the largest single-day exit since June 2026, marks the kind of event that daily flow reports over the coming weeks will clarify further.
The long-term ledger still favors Bitcoin ETFs. More than $57 billion in cumulative net inflows suggests that the broader institutional case for holding Bitcoin through a regulated wrapper remains intact, even if some holders are currently trimming positions.
