Key Notes
- US spot Bitcoin and Ether ETFs recorded $390.97 million in combined net outflows on October 14, more than erasing the previous session’s inflows.
- Fidelity’s FBTC and BlackRock’s IBIT led Bitcoin withdrawals, while BlackRock’s ETHA accounted for approximately 84.8% of the Ether group’s outflow.
- Combined October net withdrawals reached about $1.365 billion through October 14, based on CoinScreamer’s calculations from SoSoValue’s daily data.
US spot Bitcoin and Ether exchange-traded funds recorded $390.97 million in combined net outflows on October 14, reversing the previous session’s return to inflows as withdrawals concentrated in products from Fidelity, BlackRock and Grayscale.
Bitcoin funds lost $261.46 million, according to SoSoValue’s Bitcoin tracker. Its Ether data showed another $129.51 million leaving that group. The figures cover Wednesday’s completed US trading session, rather than a rolling 24-hour period in the cryptocurrency market.
The reversal more than erased Tuesday’s $200.46 million in combined inflows. Across those two sessions, the funds were left with a net withdrawal of $190.51 million, based on CoinScreamer’s calculation from the daily totals.
| US spot ETF group | October 14 net flow | October 13 net flow |
|---|---|---|
| Bitcoin | −$261.46 million | +$175.62 million |
| Ether | −$129.51 million | +$24.84 million |
| Combined | −$390.97 million | +$200.46 million |
Source: SoSoValue. Combined figures are calculated by CoinScreamer.
Fidelity and BlackRock lead Bitcoin withdrawals
Fidelity’s FBTC recorded the largest Bitcoin ETF outflow at $152.73 million. BlackRock’s IBIT followed with $110.94 million, putting the two funds’ combined withdrawals at approximately $263.67 million.
Bitwise’s BITB moved in the opposite direction, attracting $2.22 million. That inflow partly offset the withdrawals, while the other nine Bitcoin products in SoSoValue’s table recorded zero net flows for the session.
The split shows why an aggregate outflow should not be read as every fund losing capital. Wednesday’s negative balance came from two products, with one receiving new money and the remainder showing no net change.
Individual fund figures are rounded in the dashboard. Summing those displayed amounts can therefore differ slightly from the published group total.
For Ether, BlackRock’s ETHA accounted for $109.83 million in withdrawals, or approximately 84.8% of the category’s daily outflow. Grayscale’s Ethereum Mini Trust, trading under ETH, lost $18.76 million, while Franklin’s EZET recorded about $919,290 in withdrawals.
No Ether product in the provider’s October 14 table recorded a positive net flow. The remaining eight funds showed zero, making the session a broad absence of new net subscriptions even though actual withdrawals were concentrated in three products.
Tuesday’s inflows fail to reverse October’s deficit
CoinScreamer’s October 13 report tracked $175.62 million entering Bitcoin ETFs and $24.84 million entering Ether funds. The positive Ether session ended ten consecutive trading days of withdrawals; Wednesday’s result means that improvement lasted only one session.
Across the first three trading days of this week, October 12–14, Bitcoin ETFs lost a net $151.24 million and Ether funds lost $190.07 million. Together, the groups shed $341.31 million, calculated from SoSoValue’s daily history.
The monthly picture is weaker still. Adding Wednesday’s withdrawals puts Bitcoin ETFs at $539.84 million in net outflows for October through October 14. Ether funds stand at $824.86 million, bringing the combined monthly deficit to approximately $1.365 billion.
These calculations describe the period completed so far, rather than a forecast for the rest of October. A subsequent positive session would reduce the deficit, while further redemptions would deepen it.
The demand channel is also central to Wintermute’s outlook, which identified sustained spot ETF inflows and calmer long-term Treasury yields as conditions for a crypto recovery. The latest daily figures show that the fund-flow part of that scenario has yet to become consistent.
Net flows and asset values tell different stories
SoSoValue reported Bitcoin ETF net assets of $104.83 billion as of October 14, compared with $106.98 billion the previous session. Ether ETF assets fell to $15.20 billion from $15.83 billion.
Those changes should not be described as equivalent cash withdrawals. Fund asset values also move with the prices of the cryptocurrencies they hold, so the decline in assets is a different measure from the day’s net flow.
Likewise, trading volume measures shares changing hands on exchanges and is not interchangeable with net subscriptions or redemptions. The flow totals alone do not reveal every investor’s identity, separate all retail activity from institutional allocations, or establish that ETF withdrawals caused a particular cryptocurrency price move.
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