U.S. spot Bitcoin exchange-traded funds recorded net outflows of $137.9 million on Friday, October 23, extending withdrawals into a second consecutive session, according to figures from Farside Investors. Spot Ether ETFs moved in the opposite direction, attracting $4.4 million over the same trading day.

BlackRock's IBIT led the day's losses, and Bitcoin funds still finished the week with positive net flows overall. Ethereum's modest inflow offered limited relief after roughly $225 million left Ether funds during the preceding four sessions.

IBIT and FBTC Drive Friday's Bitcoin ETF Outflows

IBIT recorded net outflows of $110.3 million, the largest of any single fund. Fidelity's FBTC followed with $31.8 million in redemptions. Combined, the two funds shed $142.1 million, slightly more than the day's net total across all products.

Morgan Stanley's MSBT was the only Bitcoin fund to post inflows, $4.2 million. Farside logged zero flows for BITB, ARKB, BTCO, EZBC, BRRR, BTCW, GBTC, and BTC, per Farside's Bitcoin ETF flow update.

Net flow measures new deposits minus redemptions across all listed funds. Because IBIT and FBTC are the two largest U.S. spot Bitcoin products, their movements tend to set the daily total. A single large redemption in either fund can outweigh small inflows elsewhere, as MSBT's $4.2 million intake demonstrated on Friday. Because spot ETFs hold the underlying coins directly, creations add to a fund's Bitcoin holdings while redemptions draw them down, which is why the daily tallies serve as a running gauge of demand for the asset itself.

Where Friday Sits in the Week's Flow Pattern

Farside's daily table, which begins on October 5, shows sharp swings. Bitcoin funds took in $526.7 million on October 19, heavy outflows followed on October 22, and Friday's session added to them. Even so, Bitcoin funds ended the week in positive territory, with the October 19 inflow serving as a strong counterweight to the later withdrawals. The pattern tracks an earlier stretch in which Bitcoin steadied near $81,700 after $635 million in ETF outflows. The next session's update will show whether the outflow streak extends to a third day.

Analyst Killa compared the current setup to 2023, saying Bitcoin broke above its range and printed a weekly higher high, and could now form a higher low above the $74,000 low. Killa described the trend as "very much bullish." That remains one trader's view based on price structure rather than fund flows, and the ETF flow data does not confirm it.

Ether ETFs Post Gains After Heavy Withdrawals

Spot Ether ETFs took in $4.4 million on Friday. Fidelity's FETH added $3.6 million and Morgan Stanley's MSSE added $0.8 million, while other funds recorded zero flows. Farside left the ETHV cell blank, per Farside's Ether ETF flow update.

The inflow is small against recent losses. Ether funds lost about $110 million on October 22 and roughly $225 million from October 19 to 22, meaning Friday's gain offset only about 2% of that. A positive print after steep withdrawals shows redemptions paused for a day; it does not show a reversal. Whether Friday's pause extends into a second straight positive session will show up in the next daily table.

Analyst Joep Gerla said Ether could sweep liquidity toward $2,200 before recovering. A liquidity sweep is a brief drop through obvious support that triggers stop orders before reversing. His chart placed Ether near $2,370 at the time.