Crypto ETFs Shed $1.29 Billion as Bitcoin and Ether Lead Outflows

Crypto ETFs Face Broad Selloff as Bitcoin and Ethereum Outflows Mount

Institutional digital asset investment products faced widespread redemption pressure during the week of Oct. 5–9, as institutional capital pulled back across both major and niche cryptocurrency funds. According to data tracked by Farside Investors, spot Bitcoin exchange-traded funds (ETFs) logged $678.9 million in weekly net outflows across five trading sessions. The heavy retrenchment reversed the momentum observed in the previous week, which had generated $241.1 million in net inflows.

The trading week for Bitcoin funds unfolded with mixed sessions, logging three days of net redemptions and two positive sessions. The week opened on Monday with an $89.8 million deficit before recovering on Tuesday with $118.8 million in net inflows. However, heavy midweek exits quickly overwhelmed the market, led by Wednesday’s peak daily withdrawal of $484.9 million, alongside an additional $244.1 million leaving funds on Thursday. A late recovery on Friday brought in $21.1 million in new capital, slightly trimming the total weekly deficit.

Fidelity and ARK Drive Bitcoin Redemptions While BlackRock Stays Flat

Fund-level performance revealed substantial divergence among major issuers. Fidelity’s FBTC bore the brunt of the weekly selloff, recording $380.3 million in net redemptions. The ARK 21Shares Bitcoin ETF (ARKB) followed with $207.2 million in exits. Grayscale’s converted GBTC shed $47.5 million, while Bitwise’s BITB saw $45.3 million in outflows. Additional losses were recorded by the Grayscale Bitcoin Mini Trust with $11 million in redemptions and VanEck’s HODL, which finished down by $1.2 million.

BlackRock’s iShares Bitcoin Trust (IBIT) managed to break even on the week, finishing marginally positive with $1.1 million in net flows. IBIT accumulated $191.9 million over Monday and Tuesday, but a single withdrawal of $207.7 million on Wednesday erased those gains. Following a $5.5 million exit on Thursday, IBIT captured $22.4 million in inflows on Friday to stabilize its position. Morgan Stanley’s MSBT and Franklin Templeton’s EZBC also bucked the wider negative trend, absorbing $7.8 million and $4.7 million in fresh capital, respectively.

Ethereum ETFs Suffer Unbroken Five-Day Exodus

Ethereum investment vehicles experienced uninterrupted selling, posting five consecutive negative trading days between Oct. 5 and Oct. 9. Total weekly net outflows reached $542.2 million, a steep increase compared to the $138.1 million in net exits observed during the Sept. 28–Oct. 2 period. The losses were led by Tuesday’s $201.9 million outflow—the largest single-day drop of the week—flanked by exits of $50.8 million on Monday, $160.9 million on Wednesday, $72.5 million on Thursday, and $56.1 million on Friday.

BlackRock’s iShares Ethereum Trust (ETHA) dominated the category’s withdrawals, shedding $477.1 million and accounting for roughly 88% of all Ethereum fund outflows. In fact, ETHA’s Tuesday outflow of $201.9 million accounted for the category’s entire net losses on that day. Grayscale’s ETHE posted $31.9 million in redemptions, Fidelity’s FETH lost $13.4 million, 21Shares’ TETH shed $7.5 million, and Bitwise’s ETHW lost $5.9 million. Smaller exits hit VanEck’s ETHV ($3.7 million), Invesco’s QETH ($2 million), and the Grayscale Ethereum Mini Trust ($2 million). Morgan Stanley’s MSSE served as the sole bright spot in the category, gaining $1.3 million on Thursday, while BlackRock’s ETHB and Franklin Templeton’s EZET saw no net flow activity.

Solana, Zcash, and Hyperliquid Funds Follow Broader Market Retreat

The institutional pullback extended beyond the two primary assets into alternative crypto vehicles. Solana ETFs recorded redemptions on every trading day of the week, accumulating $25 million in total net outflows compared to a modest $800,000 inflow the week prior. Monday represented the largest exit day with $9.2 million departing, followed by $3.7 million on Tuesday, $4.8 million on Wednesday, $3.5 million on Thursday, and $3.8 million on Friday. Bitwise’s BSOL drove the bulk of the decline with $21 million in withdrawals, alongside minor outflows from FSOL ($2.1 million) and Grayscale’s GSOL ($3.7 million), offset slightly by Morgan Stanley’s MSOL ($1.8 million). Total cumulative net flows for the Solana group settled at approximately $1.58 billion.

Privacy-focused and decentralized exchange derivatives products also saw notable exits, shedding a collective $40.2 million:

• Zcash (ZCSH): Recorded $30.8 million in net redemptions for the week ($3.6 million on Monday, $8.5 million on Wednesday, and $18.7 million on Thursday). Combined with the $77.6 million withdrawn during the Sept. 28–Oct. 2 stretch, ZCSH has posted $108.4 million in outflows over two consecutive five-day cycles.
• Hyperliquid Products: Shed $9.4 million between Oct. 5 and Oct. 9, reversing the previous week’s $3.4 million inflow. Outflows were led by THYP ($12.4 million in net withdrawals), partially cushioned by modest inflows of $1 million into BHYP and $2 million into HYPG on Tuesday.

Why This Matters

The broad-based liquidations across Bitcoin, Ethereum, and emerging altcoin investment vehicles highlight a coordinated risk-off posture among institutional allocators during early October. Notably, the concentration of Ethereum redemptions inside BlackRock’s flagship ETHA suggests that institutional fund rebalancing—rather than legacy Grayscale conversions alone—is increasingly driving category flows. As cross-asset vehicles like Solana and Hyperliquid track the negative flow trajectories of larger digital assets, market participants will monitor whether institutional appetite can stabilize following Friday’s tentative inflows into spot Bitcoin products.

Frequently Asked Questions

How much money was withdrawn from Bitcoin and Ethereum ETFs during the week?

Bitcoin ETFs recorded $678.9 million in net outflows, while Ethereum ETFs registered $542.2 million in net redemptions between Oct. 5 and Oct. 9, combining for over $1.22 billion in total net exits between the two asset classes.

Which individual funds saw the heaviest net redemptions?

For Bitcoin, Fidelity’s FBTC led all redemptions with $380.3 million in net outflows, followed by ARK 21Shares’ ARKB at $207.2 million. For Ethereum, BlackRock’s ETHA experienced the largest decline by a wide margin, shedding $477.1 million, or roughly 88% of the total weekly exits across all Ethereum funds.

Did any crypto investment funds manage to see positive inflows?

Yes. Despite the overall downturn, BlackRock’s IBIT closed the week with a slight positive net flow of $1.1 million, while Morgan Stanley’s MSBT gained $7.8 million and Franklin Templeton’s EZBC brought in $4.7 million. In the Ethereum category, Morgan Stanley’s MSSE was the sole gainer with $1.3 million in net inflows.