What happened
US spot Ether ETFs recorded net outflows of $105.5M on Oct 29, according to Farside Investors. It was the fourth straight trading day of outflows, and the largest of the week. The streak started on Oct 26 with $88.6M leaving, then $60.2M on Oct 27 and $21.4M on Oct 28. Over those four sessions, Ether funds are down $275.7M.
The same day, US spot Bitcoin ETFs took in a net $17.2M. That was their fourth straight day of inflows too, but the smallest of the four. Over the same four sessions, Bitcoin funds are up $440.8M. Money is not leaving crypto ETFs as a whole. It is leaving Ether ones.
Who sold, who bought
BlackRock's ETHA lost $71.7M, about two thirds of the daily total. Other funds that lost money were BlackRock's ETHB ($15.6M), Grayscale's ETHE ($15.5M) and Grayscale's Mini ETH ($5.6M). Fidelity's FETH was the only fund with inflows, at $2.9M. The remaining products reported zero flow.
For context, SoSoValue data reported by TokenPost shows the 11 Ether funds hold about $13.98B in net assets, roughly 5.07% of Ether's market cap, with cumulative net inflows of $12.44B since launch. So a $105.5M day is about 0.75% of assets under management. It is a clear signal on direction, but it is not a run on the funds.
The month so far
CryptoWatchDesk, using Farside data, puts October Ether ETF flows at about $1.45B negative, with $1.34B of that coming from ETHA alone. Bitcoin ETFs, by comparison, are about $127M positive for the month after four green sessions this week. The gap between the two assets is the real story of the tape right now.
Why flows matter
ETF creations and redemptions are a direct link between traditional brokerage accounts and spot supply. When funds take in money, they buy Ether. When they shrink, shares are redeemed and that bid fades. Flows are not a forecast, and a single fund can move the total, as ETHA did here. But when the largest issuer leads the exit for several sessions in a row, it tells us the marginal buyer is stepping back.
Timing and market context
These figures cover US trading hours on Oct 29. CryptoWatchDesk notes that the first large transfer out of a Binance wallet came at 20:24 UTC, after the US close, so the flows do not reflect the exchange hack that followed. CoinDesk and CNBC reported on Oct 30 that Ether traded near $2,230 to $2,240, down about 4% over 24 hours, as markets reacted. The Oct 30 ETF flow figures were not yet published at the time of writing. They will be the first to show how fund investors responded.
My read (the owner's view, not advice)
My read is patience. I want to see Ether ETF flows turn green for more than a day before I get excited on $ETH. Four exits in a row, led by the biggest issuer, is not a setup I want to fight. If the next sessions show FETH and ETHA taking money in again, the picture changes quickly. If outflows continue while Bitcoin funds keep taking inflows, the relative weakness of $ETH versus $BTC is worth watching. This is my opinion only. It is not financial advice. NFA.
What to watch next
- The Oct 30 and Nov 2 Farside Ether ETF prints, especially ETHA and FETH.
- Whether Bitcoin funds extend their inflow streak to five.
- Whether the daily outflow size grows again or fades back toward the $21M seen on Oct 28.
Sources
- Farside Investors, Ethereum ETF Flow
- Farside Investors, Bitcoin ETF Flow
- BlockBeats, "Yesterday, U.S. spot Bitcoin ETFs saw a net inflow of $17.2 million, while Ethereum ETFs experienced a net outflow of $105.5 million" (Oct 30)
- TokenPost, "BlackRock ETHA sheds $71.68 million as Ethereum ETFs post fourth straight day of outflows" (SoSoValue data, Oct 30)
- EconoTimes, "U.S. Spot Ether ETFs Record $105.48 Million Outflow for Fourth Straight Day" (Oct 30)
- CryptoWatchDesk, "ETF Desk 29 Oct" (week and October totals, timing note)
- CoinDesk, "$6B Binance hack hits bitcoin (BTC). What next?" (Oct 30)
- CNBC, "Bitcoin, ether price: Binance hack rattles crypto markets" (Oct 30)
