Bitcoin ETFs Shed $643M and Ether Funds Close Their Worst Month

US spot bitcoin ETFs lost $643.2 million on Friday, enough to turn a week that had been running comfortably positive into a losing one. The funds had taken in $440.8 million between Monday and Thursday. Friday undid all of it and left the five sessions at a net $202.4 million out. Ether funds shed another $155.7 million the same day, a fifth consecutive outflow, and closed the month with their heaviest withdrawal since those products launched in July 2024. Bitcoin traded near $77,364 on Saturday.

Two trackers, two records

Farside Investors data, as crypto.news carried it on Saturday morning, makes Friday the biggest daily bitcoin ETF outflow since June, with 25 June's $691.7 million the last larger one. Coin Gabbar, reading SoSoValue, calls it the largest on its chart since 25 September. Neither published the days in between that would decide which is right, and the two readings do not reconcile. They agree on the near miss just behind it, since Friday beat 22 October's $635.6 million by about $7.6 million. The cumulative totals are out of step as well, at $57.048 billion of net inflows since the January 2024 debut on Farside's count against $56.980 billion on SoSoValue's.

Three funds did most of it

BlackRock's IBIT accounted for $233.7 million of Friday's total and Fidelity's FBTC for $201 million. ARK's ARKB lost $129.5 million, which takes the top three to 87.7% of the day. Grayscale's GBTC was out $53.3 million and Bitwise's BITB $25.7 million. No other product in the group managed a positive flow. ARKB had recorded no flows at all from Monday to Thursday, so Friday is its entire week. IBIT is the month's outlier. It finished October up $932.1 million while the rest of the field shed roughly $1.45 billion between them, and its weekly net stayed positive at $176.9 million even after Friday.

The ether total depends on who is counting

Three counts of the same month were in circulation on Saturday and they do not reconcile. The sum crypto.news took from Farside's daily figures comes to $1.6072 billion. SoSoValue, as Siam Blockchain read it, gives about $1.55 billion across 21 trading days to 30 October, and the same outlet's CoinMarketCap reading stops at about $1.45 billion to 29 October. A widely shared post from the X account Ash Crypto put the figure at $1.61 billion, which is one account's arithmetic rather than a tracker's own publication. This desk's last count on the month was $1.08 billion by 21 October, so whichever reading holds, the bulk of it landed in the final week. Friday's selling was spread across six products and led by BlackRock's ETHA at $76.6 million.

ETF holders are under water on average

Glassnode puts the average purchase price of the bitcoin held in spot ETFs at $81,500. Saturday's price is some $4,100 below that. Its True Market Mean, the cost basis of the coins it counts as actively held and not dormant, sits at $77,900, and bitcoin is under that figure too. Ether has had the worse month of the two, down about 17% over 30 days and closing Wednesday near $2,249, its first finish below $2,300 since August. October's accounting is closed. What the next print settles is whether Friday was the end of that selling or the start of something else.