Spot Bitcoin funds kept collecting cash on October 28 while spot Ether products extended a rough stretch of withdrawals
US spot Bitcoin ETFs pulled in $137 million in net inflows on October 28. Spot Ethereum ETFs went the other way, shedding $21.41 million on the same day.
Bitcoin keeps the lights on
The Bitcoin inflows were tracked by data providers including Alpha Finance and Farside Investors, according to the research findings. BlackRock’s iShares Bitcoin Trust, known by its ticker IBIT, was flagged as a leading contributor to the day’s buying.
The October 28 inflow did not arrive in isolation. Bitcoin ETFs also recorded significant flows on October 26 and October 27, giving the products a run of steady demand heading into the latest session.
Other major issuers in the space include Fidelity, Grayscale, and Bitwise.
Cumulative net inflows into US spot Bitcoin ETFs have reached roughly $57–58 billion since the funds launched in January 2024. Total assets under management across the group have surpassed $100 billion.
Bitcoin itself was trading in a range of $80,000 to $81,500 in late October, per the research findings.
Ether funds can’t catch a break
The $21.41 million outflow on October 28 extended a pattern of consecutive withdrawals from spot Ether products over the period.
BlackRock’s Ethereum fund, ETHA, was identified as a significant driver of the outflows.
Ethereum ETF outflows approached $1.3 billion for October as a whole.
Spot Ethereum ETFs, which debuted in July 2024, have gathered about $12.5 billion in cumulative net inflows since inception. Total assets held by the group sit at around $14 billion.
A volatile October for both
Mid-month, Bitcoin ETF products recorded a $635 million outflow. That single day of selling dwarfs the $137 million that came in on October 28.
The mid-October turbulence coincided with a sharp increase in Ethereum outflows.
What this means for investors
Nearly $1.3 billion leaving in a single month is not a rounding error for a product group holding about $14 billion.
BlackRock’s position on both sides of the trade shows that dominant firms can absorb a rotation without losing clients, while smaller issuers more dependent on a single product may feel the swings more sharply.
