Bitcoin ETFs Attract Inflows as Ether Funds See Outflows
US spot Bitcoin ETFs recorded mixed but substantial inflows in late October, while Ether ETF flows weakened. Lookonchain reported $470.15 million in Bitcoin ETF net inflows on Oct. 22, equivalent to 5,766 BTC; BlackRock’s IBIT and Fidelity’s FBTC accounted for about 92% of the total. Bitcoin ETFs also logged $937.97 million in net inflows over seven days. The same snapshot showed $10.63 million in Ether ETF outflows, led by BlackRock’s ETHA. However, Farside Investors reported inflows to both asset classes for its completed Oct. 21 session, so the daily figures are not directly comparable. In the later update, Bitcoin ETFs recorded $137 million in net inflows on Oct. 28, while Ether ETFs saw $21.41 million in outflows. Since launch, Bitcoin ETFs have attracted roughly $57–58 billion in cumulative net inflows and hold more than $100 billion in assets. Ether ETFs have accumulated about $12.5 billion in net inflows since July 2024, despite October outflows approaching $1.3 billion. Bitcoin traded around $80,000–$81,500 in late October. The divergent Bitcoin ETF and Ether ETF flows signal differing near-term fund demand, but ETF flows alone do not confirm a lasting market trend.
Neutral
The ETF data show stronger demand for Bitcoin than for Ether in the later update, which could support Bitcoin sentiment and spot demand in the short term. Bitcoin’s substantial cumulative ETF inflows and the Oct. 28 net inflow add to that supportive signal. Ether’s outflows, including the October total nearing $1.3 billion, may weigh on near-term sentiment for ETH. However, earlier snapshots differ by provider and reporting cutoff, and one showed inflows for both assets. ETF flows are only one market indicator; they can shift quickly and do not establish a durable price trend. Broader risk appetite, liquidity, and trading activity will also matter, so the combined signal is mixed rather than a clear directional catalyst for either cryptocurrency.