Key Insights: Bitcoin ETFs recorded $643.33M in outflows, their largest daily withdrawal since June. BlackRock’s IBIT lost $233.7M, while Fidelity’s FBTC recorded $201M in redemptions. Ethere
Bitcoin ETFs recorded $643.33 million in net outflows on Oct. 30, marking their largest daily withdrawal since June 25. The withdrawals followed four consecutive sessions of inflows into U.S. spot funds.
SoSoValue data showed that BlackRock and Fidelity led the withdrawals. Meanwhile, Ethereum exchange-traded funds (ETFs) lost another $156 million during the same session.
The sell-off coincided with broader weakness in the cryptocurrency market following Binance’s $6.3 billion security breach. However, the available data did not establish a direct connection between the hack and ETF redemptions.
Farside Investors data showed that Bitcoin ETFs lost approximately $643.2 million on Friday. BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $233.7 million of those withdrawals.
Bitcoin ETFs chart | Source: Farside Investors
Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with $201 million in net outflows. ARK 21Shares’ ARKB registered another $129.5 million in withdrawals.
Grayscale’s GBTC lost $53.3 million, while Bitwise’s BITB recorded $25.7 million. The remaining funds reported no net inflows during the session.
Combined withdrawals from BlackRock and Fidelity represented approximately 67.6% of the daily total. The figures indicated concentrated redemptions across the two largest contributors to Friday’s losses.
The latest Bitcoin ETF outflows also reversed the combined inflows over the previous four trading sessions. Farside recorded approximately $440.8 million in net inflows between Oct. 26 and Oct. 29.
Those inflows included $176 million on Oct. 27 and $137.3 million on Oct. 28. Thursday’s $17.2 million inflow preceded the sharp reversal. Consequently, Friday’s withdrawals exceeded the combined inflows of the previous four sessions by approximately $202.4 million.
Outflows from Bitcoin ETFs occurred amid renewed concerns about cryptocurrency exchange security. Binance confirmed a major breach involving approximately $6.3 billion in stolen cryptocurrency assets.
In its Oct. 30 security update, Binance said attackers compromised its hot wallets on Oct. 29. The exchange reported that partners had frozen approximately $3 billion in affected assets. It also pledged to absorb the losses using corporate funds and its user protection reserves.
The incident added uncertainty to an already weakened Bitcoin crypto market. However, neither Farside nor SoSoValue attributed the ETF withdrawals directly to the breach.
Outflow of Bitcoin ETFs Hit Four-Month High | Source: Cryptoetf.today
Meanwhile, CryptoETF tracking data placed Bitcoin near $77,300 on Oct. 30. The tracker estimated approximately $98.52 billion in assets across U.S. spot Bitcoin funds.
Bitcoin ETFs therefore faced pressure from declining cryptocurrency prices and net investor withdrawals. These developments occurred together, although fund flows alone could not establish investor motivations.
The combination also raised questions about the sustainability of the previous week’s institutional demand.
Ethereum investment products saw continued outflows alongside the sell-off in Bitcoin ETFs. SoSoValue reported approximately $156 million in net outflows from U.S. spot Ethereum funds.
Farside Investors recorded around $156 million in withdrawals after rounding individual fund figures. BlackRock’s iShares Ethereum Trust (ETHA) led with approximately $76.6 million in redemptions.
Grayscale’s Ethereum Mini Trust followed with $34.1 million in withdrawals. Its ETHE product lost another $21.5 million during the session. BlackRock’s ETHB recorded approximately $19.5 million in outflows, while Fidelity’s FETH shed $3.3 million.
Ethereum ETFs consequently registered their fifth consecutive trading session of net withdrawals. Farside’s figures placed combined weekly withdrawals near $431.4 million.
The persistent Ethereum withdrawals suggested weaker fund demand than Bitcoin’s earlier four-session recovery. Unlike Bitcoin funds, Ethereum investment products failed to record positive daily flows throughout the week.
The latest Bitcoin ETF data raised questions about the durability of institutional demand heading into November. Friday’s withdrawals erased the gains accumulated during the previous four sessions.
However, a single trading session could not trigger a sustained institutional exit. Farside’s historical records showed that daily flows regularly shifted between inflows and withdrawals.
The next trading sessions will help establish whether redemption pressure persists or investors resume accumulating fund shares.
Bitcoin’s performance around $77,000 also remained relevant to the broader market outlook. Further price weakness could coincide with continued redemptions, although that relationship remains uncertain.
For now, Bitcoin ETFs ended October under renewed selling pressure, with BlackRock and Fidelity accounting for most withdrawals.
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