U.S. spot Bitcoin and Ether ETFs recorded approximately $548.5 million in combined net outflows during the five trading sessions ended October 16, with Ethereum products accounting for the larger share. Spot Ether ETFs lost $320.1 million during the week, compared with $228.4 million in net withdrawals from Bitcoin funds.
According to Farside Investors’ Ethereum ETF data, Ether funds posted net outflows of $85.4 million on October 12, followed by a $24.8 million inflow on October 13, then withdrawals of $129.5 million, $60.3 million and $69.7 million across the final three sessions. The positive October 13 session interrupted a 10-trading-day outflow streak that had extended from September 29 through October 12.
Bitcoin flows were similarly uneven. Funds lost $65.4 million on October 12, attracted $175.7 million the next day, lost $261.4 million on October 14, added $5.1 million on October 15 and ended the week with another $82.4 million withdrawal. The weekly negative total therefore resulted from several sharp reversals rather than uninterrupted selling across all five sessions.
BlackRock ETHA Dominates Ether Redemptions
The Ethereum side was particularly concentrated in BlackRock’s iShares Ethereum Trust. ETHA recorded $75.1 million in outflows on October 12, $109.8 million on October 14, $44.4 million on October 15 and $69.7 million on October 16. Those four sessions produced approximately $299 million in ETHA net outflows, equal to 93.4% of the category’s weekly withdrawal.
That concentration should not be interpreted as evidence that one institution or investor exited a similarly sized position. ETF flow data measure net creations and redemptions at the product level and do not identify the beneficial owners behind those transactions. A large outflow from one BlackRock fund establishes where the redemption activity occurred, not who initiated it or why.
The pattern also reverses periods earlier in the year when BlackRock’s Ethereum products were a major contributor to positive ETH fund flows. In July, Ether outperformed Bitcoin as ETF inflows concentrated in BlackRock products. The October data show how quickly the same large vehicle can dominate aggregate flows in the opposite direction.
October’s cumulative Ethereum ETF picture is now close to the $1 billion threshold. Adding Farside’s daily figures from October 1 through October 16 produces approximately $955.1 million in net outflows for the month to date, while the three trading weeks beginning September 28 produce just over $1 billion in withdrawals.
Weekly Outflows Slow From Prior Period
Despite the negative headline, combined Bitcoin and Ether ETF withdrawals slowed substantially from the preceding week. From October 5 through October 9, Bitcoin funds lost approximately $678.9 million while Ether products shed $542.2 million, producing roughly $1.22 billion in combined outflows. The $548.5 million recorded from October 12 through October 16 was about 55% smaller than the previous week’s combined total.
Recent history also shows why weekly ETF movements should be separated from direct conclusions about crypto prices or investor classes. In September, Bitcoin ETFs attracted $346.9 million even as BTC fell below $84,000, while another session produced a $450.4 million Bitcoin ETF outflow. ETF creations and redemptions can coincide with broader spot, derivatives and macro-market moves without establishing that they caused them.
The clearest signal from the latest week is therefore one of fund-level allocation rather than a confirmed institutional retreat from crypto. Ether ETFs experienced the larger absolute withdrawal despite their smaller asset base, and one product, ETHA, accounted for almost the entire net decline. Whether that concentration persists in subsequent sessions will determine if mid-October develops into a sustained Ethereum ETF outflow trend or remains a fund-specific period of heavy redemptions.
