Bitcoin, Ethereum ETFs Hit Hard: $672M Vanishes in Two-Day Streak

TLDR

• Bitcoin ETFs recorded net outflows of $488 million on October 30 during their second consecutive day of withdrawals.
• Ethereum ETFs posted $184 million in net outflows as every issuer except Grayscale’s ETHE experienced redemptions.
• BlackRock’s IBIT led Bitcoin ETF losses with outflows exceeding $290 million in a single trading session.
• BlackRock’s ETHA topped Ethereum ETF withdrawals at $118 million followed by Bitwise’s ETHW at $31 million.
• Bitcoin dropped below $110,000 while Ethereum fell beneath $4,000 during the market selloff.

Bitcoin and Ethereum ETFs posted their second consecutive day of outflows on October 30. The market continues to face downward pressure as both assets break key psychological levels. The Bitcoin price now trades below $110,000, while Ethereum has dropped beneath $4,000.

Bitcoin ETFs Record Heavy Outflows

Bitcoin ETFs saw net outflows reach $488 million on October 30. Nearly every listed issuer experienced withdrawals, with only a handful remaining flat. BlackRock’s IBIT led the losses with outflows exceeding $290 million.

Ark & 21Shares’ ARKB followed with redemptions surpassing $65 million, according to SoSoValue data. The widespread selling affected almost all Bitcoin ETF products in the market. Total weekly flows for Bitcoin ETFs turned negative, erasing gains from earlier in the week.

Ethereum ETFs Mirror Downward Trend

Ethereum ETFs recorded $184 million in net outflows during the same trading session. Every issuer, except Grayscale’s ETHE, posted redemptions. BlackRock’s ETHA experienced the largest withdrawal, at $118 million.

Bitwise’s ETHW saw $31 million exit the fund on October 30. Ethereum ETFs have now matched Bitcoin’s pattern of persistent selling. Weekly momentum for Ethereum ETFs shifted to negative territory after consecutive days of outflows.

The broader market’s struggle to maintain key support levels contributed to the redemptions. Ethereum ETFs faced pressure as the cryptocurrency dipped below the $4,000 threshold. Both primary cryptocurrency ETF categories lost their positive momentum for the week.

New Altcoin ETFs Show Strength

Solana, HBAR, and Litecoin ETFs bucked the broader trend with steady inflows this week. Bitwise launched its Solana ETF (BSOL) on the NYSE earlier this week. The debut marked the first spot Solana ETF available in the United States.

BSOL pulled in over $36 million in daily net inflows since launch. The fund’s cumulative net inflow reached $155 million within just three trading days. Strong investor interest distinguished the Solana ETF from established Bitcoin and Ethereum ETFs.

Canary Capital’s HBAR ETF went live on Nasdaq around the same time. The fund reported nearly $30 million in fresh inflows during its opening sessions. HBAR built momentum despite broader market corrections affecting major cryptocurrencies.

Litecoin completed its ETF debut on Nasdaq this week as well. The LTCC product remains in a net positive territory despite modest aggregate flows. The new altcoin ETFs attracted capital while Bitcoin and Ethereum ETFs faced redemptions.

These three products demonstrated resilience during volatile market conditions. Investors sought diversification beyond the two largest cryptocurrencies by market capitalization. The steady inflows highlighted continued institutional demand for regulated cryptocurrency investment vehicles.

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