Key Takeaways
- • U.S. spot bitcoin ETFs recorded $137.9 million of net outflows on Friday, October 23, a second straight day of redemptions, according to Farside Investors data.
- • Despite Friday's outflows, the group finished the week $301.2 million positive, following $228.4 million of outflows the prior week.
- • BlackRock's iShares Bitcoin Trust (IBIT) led Friday's redemptions with $110.3 million out, while Fidelity's Wise Origin Bitcoin Fund lost $31.8 million.
- • Bitcoin funds remain $313.5 million negative for October after 17 sessions, with FBTC down $588.5 million for the month against IBIT's $755.2 million gain.
- • Ether ETFs were down $220.7 million for the week and about $1.18 billion for October, while Solana funds lost $17.6 million on the week.
Summary
U.S. spot bitcoin exchange-traded funds recorded $137.9 million of net outflows on Friday, October 23, marking a second consecutive day of redemptions, according to Farside Investors data reported by HedgeCo.Net. Even so, the group finished the week $301.2 million in positive territory, a reversal from $228.4 million of outflows in the prior week.
BlackRock's iShares Bitcoin Trust led Friday's outflows with $110.3 million, while Fidelity's Wise Origin Bitcoin Fund lost $31.8 million. Morgan Stanley's MSBT took in $4.2 million, and every other reporting bitcoin fund was flat. VanEck's HODL had not reported a figure for the day, so the total reflects only the funds that had.
The week split into two distinct phases. According to CryptoWatchDesk's tally of Farside figures, Monday and Wednesday brought in $1,051.5 million combined, before Thursday and Friday gave back $773.5 million. The late-week outflows coincided with a broad selloff in large technology stocks. Over the five sessions, IBIT took in $565.7 million, while Fidelity's FBTC lost $116.6 million and ARK 21Shares' ARKB lost $99.6 million.
The monthly picture remains negative. Bitcoin funds were $313.5 million in the red for October after 17 sessions, with IBIT up $755.2 million and FBTC down $588.5 million. Ether ETFs took in a net $4.4 million on Friday but were down $220.7 million for the week and roughly $1.18 billion for October. Solana funds lost $17.6 million on the week.
The divergence between issuers is significant for crypto allocators, as flows are increasingly concentrated in BlackRock's fund even on weak days, while other products absorb more of the redemptions. With bitcoin trading near $80,755 on Saturday and equity volatility elevated, the coming sessions will indicate whether early-week buying represents a durable return of demand or a short-lived rebound.
BlackRock's iShares Bitcoin Trust led Friday's outflows with $110.3 million, while Fidelity's Wise Origin Bitcoin Fund lost $31.8 million. Morgan Stanley's MSBT took in $4.2 million, and every other reporting bitcoin fund was flat. VanEck's HODL had not reported a figure for the day, so the total reflects only the funds that had.
The week split into two distinct phases. According to CryptoWatchDesk's tally of Farside figures, Monday and Wednesday brought in $1,051.5 million combined, before Thursday and Friday gave back $773.5 million. The late-week outflows coincided with a broad selloff in large technology stocks. Over the five sessions, IBIT took in $565.7 million, while Fidelity's FBTC lost $116.6 million and ARK 21Shares' ARKB lost $99.6 million.
The monthly picture remains negative. Bitcoin funds were $313.5 million in the red for October after 17 sessions, with IBIT up $755.2 million and FBTC down $588.5 million. Ether ETFs took in a net $4.4 million on Friday but were down $220.7 million for the week and roughly $1.18 billion for October. Solana funds lost $17.6 million on the week.
The divergence between issuers is significant for crypto allocators, as flows are increasingly concentrated in BlackRock's fund even on weak days, while other products absorb more of the redemptions. With bitcoin trading near $80,755 on Saturday and equity volatility elevated, the coming sessions will indicate whether early-week buying represents a durable return of demand or a short-lived rebound.
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