US spot Bitcoin exchange-traded funds returned to net buying on October 28, recording $137.3 million in inflows and extending their positive streak to three consecutive trading days. US spot Ethereum funds moved in the opposite direction, posting $21.4 million in withdrawals for a third straight session, according to data from Farside Investors. The figures cover US-listed funds that track the two largest cryptocurrencies, and the opposing results extended a split in October flows between the two asset classes.

Source: X

BlackRock's IBIT Leads Bitcoin ETF Inflows

BlackRock's iShares Bitcoin Trust (IBIT) received $136 million on Wednesday, accounting for nearly all of the day's net additions to the category. Bitwise's BITB brought in $1.3 million. Funds managed by Fidelity, Grayscale and other issuers recorded no net flows during the session. With a single fund supplying nearly the entire category's net additions, the session stood out as a notably concentrated day for Bitcoin ETF demand.

The latest inflows followed additions of $110.3 million on October 26 and $176 million on October 27, bringing the combined three-day total to approximately $423.6 million. That followed a $635.6 million withdrawal on October 22, with another $137.9 million leaving the next day. The day's additions brought the category's streak of net inflows to three consecutive sessions.

Ethereum ETFs Post Third Session of Outflows

US spot Ether ETFs reported $21.4 million in net withdrawals on October 28. BlackRock's iShares Ethereum Trust (ETHA) lost $44.8 million on its own — more than the group's overall daily outflow — as inflows into other products partially offset the redemptions.

Fidelity's FETH gained $18.8 million, Grayscale's Ethereum Mini Trust added $3.6 million, and Morgan Stanley's MSSE received $1 million. All remaining Ether funds reported zero net flows, according to Farside's data.

October Totals Show Diverging Trends

Ether ETFs lost $88.6 million on October 26 and $60.2 million the following day, bringing withdrawals across the three sessions to approximately $170.2 million. Net withdrawals have outweighed new investment in the Ether funds for much of the month, and a recent report on Ethereum ETF outflows documented four straight weeks of net withdrawals from the products.

For October as a whole, Ether ETF withdrawals have reached roughly $1.35 billion. Even so, the funds have attracted about $12.58 billion in cumulative net inflows since their launch in July 2024. These totals measure money moving into and out of fund shares rather than day-to-day cryptocurrency price changes. Because spot ETFs trade through standard brokerage accounts, the daily tallies offer a fund-by-fund view of how investor allocation across the two largest cryptocurrencies is shifting.

Bitcoin Funds Recover From Late-October Selling

Bitcoin ETFs have reversed part of last week's losses, although the recent three-day inflow total remains below the $773.5 million withdrawn across October 22 and 23. Through Wednesday, Bitcoin funds had recorded approximately $110 million in net inflows for the month.

The flows arrived as asset managers continued to introduce crypto-linked products. On October 27, VanEck launched a fund holding a small Bitcoin allocation alongside stocks, bonds and other assets; that structure differs from the spot Bitcoin funds tracked by Farside.

Cumulative net inflows into US Bitcoin ETFs stand at roughly $57.67 billion since the products debuted in January 2024. The October 28 figures reflect completed US trading sessions and exclude any later transactions. Upcoming daily updates from Farside Investors will show whether Bitcoin's three-session inflow streak extends and whether Ether products' withdrawals begin to taper.

Source: CoinCentral