Ether ETFs Lost $320.1 Million Over the Week, Topping Bitcoin Funds' $228.4 Million, Farside Data Shows

Weekly totals for Oct. 12 to 16 are in, and Ethereum funds, not Bitcoin, took the heavier hit.

Five crypto ETF groups tracked by Farside Investors lost a combined $610.7 million during Oct. 12 to 16. Ethereum products shed $320.1 million. Bitcoin products shed $228.4 million. Solana, Zcash and Hyperliquid funds also finished the week in the red.

A slower bleed than the week before

The prior week, Oct. 5 to 9, was worse. Those same five groups lost about $1.29 billion, with Bitcoin funds accounting for $678.9 million and Ethereum funds $542.2 million.

That makes this week's total a 52.5% drop in net withdrawals. Bitcoin withdrawals slowed 66% from the earlier week.

The daily path was uneven. Monday lost $155.5 million. Tuesday was the only positive session, with $194.3 million in net inflows. Wednesday was the worst day at $393.4 million out, followed by $90.1 million Thursday and $166 million Friday.

Bitcoin and Ethereum together made up $548.5 million, about 89.8% of the week's net withdrawals.

BlackRock's Ether fund did most of the damage

Within Ethereum, one product dominated. BlackRock's ETHA lost $299 million for the week, or 93.4% of the category's net outflow, based on Farside's daily entries.

The rest of the group was mixed. Fidelity's FETH took in $10.5 million. Grayscale's Ethereum Mini Trust lost $12.4 million, Grayscale's ETHE lost $18.3 million, and Franklin Templeton's EZET lost $900,000.

Ethereum funds posted four negative sessions and one positive. Monday's withdrawal was $85.4 million, Tuesday brought $24.8 million in inflows, Wednesday's $129.5 million exit was the week's largest, and Thursday and Friday added withdrawals of $60.3 million and $69.7 million.

On Friday the two groups bled at once. Bitcoin funds lost $82.39 million and Ether funds lost $69.68 million, about $152 million combined.

The Bitcoin side of the ledger

Bitcoin funds recorded their strongest session on Tuesday, attracting $175.7 million, according to Farside. Wednesday's $261.4 million withdrawal exceeded that intake, and Friday ended with another $82.4 million exit.

BlackRock's IBIT lost $165.4 million over the week, calculated from its five daily entries. Fidelity's FBTC shed $60.2 million, while Morgan Stanley's MSBT attracted $6.7 million and Bitwise's BITB added $2.2 million. Invesco's BTCO lost $4.1 million, and Grayscale's Bitcoin Mini Trust recorded $7.6 million in withdrawals.

Why the dollar figures can mislead

Size matters here. Bitcoin ETFs hold an estimated $105 billion to $106 billion in assets and more than 1.27 million BTC. Friday's outflow was less than a tenth of one percent of that. Ether ETFs hold roughly $15 billion, so a $69.68 million exit is proportionally heavier.

Cumulative net inflows into spot Bitcoin ETFs since their January 2024 launch total roughly $57 billion. One count put October's outflows through mid-month at about $535 million, under 1% of that figure. That follows September, when the funds attracted about $2.6 billion.

The flow figures also don't agree with one another. Crypto Briefing's tally put net Bitcoin ETF selling over the past week at about $145 million, well below Farside's $228.4 million. For Friday alone, alternative tallies put Bitcoin's outflow as low as $10.6 million, with Fidelity's FBTC leading redemptions. Flow data are compiled on different schedules, and the gap between sources is wide.

On Oct. 15, a separate tally from CryptoETF Today, corroborated by SoSoValue, showed Bitcoin funds taking in $5.06 million, with IBIT drawing $16.79 million, while Ether funds lost $60.22 million, $44.39 million of it from ETHA. That dashboard is not directly comparable to Farside's tables.

What the money is signaling

The interpretations differ. CoinShares, which tracks a broader global set of digital asset products, reported $434 million in withdrawals in its reporting week and attributed them to shifting interest-rate expectations after US inflation and retail sales releases. That dataset has a different scope and cutoff from the US ETF tables, and Farside's tables assign no cause to the flows.

Crypto Briefing's analysis read the simultaneous Bitcoin and Ether exits as a broader risk-off posture rather than a view on one asset. The same analysis argued that more than $7.5 billion in weekly Bitcoin ETF trading against net selling of about $145 million shows engagement has not vanished, only turned cautious. It also pointed to Ether's recent underperformance against Bitcoin and rising Treasury yields as weights on sentiment.

Bitcoin was trading near $82,000 and Ethereum between $2,400 and $2,500 at last report.

One other Ether-related item: VanEck filed on Oct. 14 to withdraw its registration for a proposed Lido Staked Ethereum ETF. The filing said the sponsor "does not intend to proceed with the planned distribution" of the trust's shares. VanEck confirmed the registration statement had not become effective and that no securities had been issued or sold under it. The proposed offering is separate from the operating funds in Farside's weekly flow table.

Because ETHA so often accounts for the bulk of Ether redemptions, a shift in its daily flows would likely be the first visible sign that the trend is turning.