US spot Ethereum ETFs shed $21.41 million on October 28, extending a run of withdrawals, while spot Bitcoin ETFs took in $137 million. Ether fund outflows approached $1.3 billion for October as a whole.
US spot Ethereum ETFs shed $21.41 million on October 28. Spot Bitcoin ETFs went the other way, pulling in $137 million in net inflows on the same day.
Ether funds extend withdrawals
The $21.41 million outflow extended a pattern of consecutive withdrawals from spot Ether products. BlackRock's Ethereum fund, ETHA, was identified as a significant driver of the outflows.
Ethereum ETF outflows approached $1.3 billion for October as a whole. Spot Ethereum ETFs, which debuted in July 2024, have gathered about $12.5 billion in cumulative net inflows since inception, and total assets under management for the group sit at around $14 billion.
Bitcoin funds keep collecting cash
Data providers including Alpha Finance and Farside Investors tracked the Bitcoin inflows. BlackRock's iShares Bitcoin Trust, ticker IBIT, was flagged as a leading contributor to the day's buying.
The October 28 inflow followed significant flows on October 26 and October 27. Cumulative net inflows into US spot Bitcoin ETFs have reached roughly $57–58 billion since the funds launched in January 2024, and total assets under management across the group have surpassed $100 billion.
Bitcoin itself was trading in a range of $80,000 to $81,500 in late October.
A volatile October for both
Bitcoin ETF products recorded a $635 million outflow mid-month, far larger than the $137 million that came in on October 28. That mid-October turbulence coincided with a sharp increase in Ethereum outflows.
Source: Crypto Briefing
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