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ZEC $1,316 Bitcoin ETFs lose $90 million as Blackrock keeps buying
U.S. bitcoin funds posted $89.90 million of outflows, but IBIT still drew $69.85 million while ether ETFs extended their losing streak.
Key takeaways
- Outflows reversed. Bitcoin ETFs lost $89.90 million in one session, then took in $118.86 million the next.
- IBIT kept buying. Blackrock's IBIT drew $69.85 million, then $122 million, even as ARKB lost $85.21 million.
- Ether kept bleeding. Ether ETFs fell for five straight sessions, then lost $201.89 million in a sixth, all from ETHA.
What happened
U.S. crypto exchange-traded funds opened the week with net selling. Bitcoin funds lost $89.90 million, and ether funds extended their losing run to five straight sessions with a $50.76 million withdrawal.
Two bitcoin products drove the total. ARKB recorded an $85.21 million exit and Fidelity's FBTC shed $74.55 million, while Blackrock's IBIT attracted $69.85 million.
Bitcoin ETF trading value reached $2.18 billion, with net assets at $110.77 billion. On the ether side, Blackrock's ETHA lost $31.88 million, Fidelity's FETH lost $18.88 million and net assets closed at $17.69 billion.
The next session flipped the bitcoin picture. Bitcoin ETFs took in $118.86 million, with IBIT accounting for $122 million of it, while ether funds lost $201.89 million in a sixth straight session of outflows. The entire ether exit came from ETHA, and net assets fell to $17.36 billion.
NewsBTC, citing Farside Investors, reported $201.9 million of ether ETF outflows on October 6 and roughly $118.8 million of bitcoin ETF inflows on the same day.
Why it matters
ETF flows carry weight because these products have become one of the cleanest gauges of demand from investors who want crypto exposure through traditional brokerage and asset-management channels.
The split inside bitcoin matters as much as the total. Demand keeps favoring the largest vehicles, particularly IBIT, while redemptions elsewhere become more frequent, so institutional support looks less uniform.
Blackrock's U.S. head of equity ETFs, Jay Jacobs, said lower thresholds for in-kind transfers have "opened the floodgates" for investors moving direct bitcoin holdings into ETF structures.
Ether's streak is harder to dismiss. Farside logged ETH ETF outflows of $55.4 million on October 1, $37.4 million on October 2 and $50.8 million on October 5 before the bigger October 6 number.
What the data shows
- Bitcoin ETFs: -$89.90 million in one session, then +$118.86 million the next.
- IBIT: +$69.85 million, then +$122 million, against ARKB at -$85.21 million and FBTC at -$74.55 million.
- Ether ETFs: -$50.76 million across five sessions, then -$201.89 million, all of it from ETHA. Net assets went from $17.69 billion to $17.36 billion.
Background
- Bitcoin ETF net assets stood at $110.77 billion in the first session and $110.68 billion in the second, with trading value falling from $2.18 billion to $1.84 billion.
- Morgan Stanley's MSBT added $7.84 million in the same session, while Grayscale's Bitcoin Mini Trust recorded a $10.97 million outflow.
- The Winklevoss twins filed for a spot Zcash product under the proposed ticker WINK.
What is still unclear
- It is still unclear whether the October ether withdrawals are a temporary repositioning or the start of a more persistent gap between institutional demand for BTC and ETH.
- A single day of ETF flows should not be treated as a verdict on either asset, since these products regularly see large creations and redemptions for reasons such as portfolio rebalancing and short-term trading.
Questions readers ask
Why did bitcoin ETFs lose $89.90 million while Blackrock kept buying?
The bitcoin outflows came from ARKB, which lost $85.21 million, and Fidelity's FBTC, which lost $74.55 million. Blackrock's IBIT still attracted $69.85 million.
How much did ether ETFs lose?
Ether ETFs lost $50.76 million in a fifth straight session of outflows, then $201.89 million in a sixth. Blackrock's ETHA accounted for the entire $201.89 million exit.
Did bitcoin ETF flows turn positive again?
Yes. Bitcoin ETFs recorded $118.86 million in net inflows in the next session, with IBIT accounting for $122 million. NewsBTC, citing Farside Investors, put the same day's inflows at roughly $118.8 million.
Are ether ETF outflows a one-day event?
No. Farside recorded ETH ETF outflows of $55.4 million on October 1, $37.4 million on October 2 and $50.8 million on October 5 before the larger October 6 withdrawal.
