US spot Bitcoin ETFs pulled in $137 million in net inflows on October 28, while spot Ethereum ETFs experienced $21.41 million in outflows on the same day.
BlackRock's iShares Bitcoin Trust (IBIT) was among the major contributors to Bitcoin inflows. The October 28 activity followed significant flows on October 26 and 27, reflecting sustained demand for the products. Other major Bitcoin ETF issuers include Fidelity, Grayscale, and Bitwise.
Since launching in January 2024, US spot Bitcoin ETFs have accumulated approximately $57–58 billion in net inflows, with total assets under management exceeding $100 billion. Bitcoin was trading between $80,000 and $81,500 in late October.
Ethereum ETF outflows extended through the month of October. BlackRock's Ethereum fund (ETHA) was identified as a significant driver of withdrawals. Spot Ethereum ETFs, which launched in July 2024, have gathered about $12.5 billion in cumulative net inflows since inception, with total assets around $14 billion. October outflows from Ethereum ETFs approached $1.3 billion for the month.
The volatility was not uniform across the period. Mid-October saw a $635 million outflow from Bitcoin ETF products, which coincided with a sharp increase in Ethereum outflows.
For a product group holding approximately $14 billion, nearly $1.3 billion in monthly outflows represents a significant shift. Major issuers like BlackRock maintain positions across multiple products and can absorb rotations more readily than smaller issuers dependent on individual funds.
