US spot Bitcoin ETFs recorded $442.62 million in net outflows during the week of October 19 to 23, 2026, while spot Ethereum ETFs declined by $224.96 million over the same stretch. The outflows occurred during a period of increased market volatility.
Bitcoin's Single-Day Spike
The largest portion of Bitcoin ETF outflows occurred on October 22, when the funds saw a single-day outflow of approximately $635.5 million—the largest since June 2026. This one session largely reversed gains the funds had accumulated earlier in the week.
Different Pattern for Ethereum
Ethereum ETFs experienced a different dynamic. Their $224.96 million in weekly outflows reflected an extended streak of outflows spanning multiple weeks, rather than a single volatile event.
Market Leadership and Asset Base
BlackRock's iShares Bitcoin Trust (IBIT) led the category in both inflows and outflows during the period. IBIT has accumulated approximately $65 to $66 billion in net inflows since launch. Grayscale's GBTC has recorded around $28 billion in cumulative outflows. Total assets in spot Bitcoin ETFs reached approximately $104 to $105 billion, while Ethereum ETFs held around $14.5 billion.
Cumulative Context
Despite the weekly outflows, cumulative net inflows into Bitcoin ETFs since their debut exceed $57 billion. The $442.62 million weekly outflow represents less than 1% of the category's total assets.
Investor Implications
Bitcoin and Ether ETFs are no longer moving in lockstep. Bitcoin funds absorbed a significant single-day exit but maintain a substantial cushion of cumulative inflows. Ethereum ETF holders appear to be reassessing exposure through a sustained multi-week outflow pattern rather than reacting to volatility. The proportional impact differs between the two: Ethereum's $224.96 million outflow represents a larger percentage of its $14.5 billion asset base than Bitcoin's larger outflow does of its $104 to $105 billion base.
