U.S. spot Bitcoin exchange-traded funds recorded $635.6 million in net outflows on October 22, reversing a strong positive session just one day earlier. The withdrawal followed $524.8 million of net inflows on October 21, producing a swing of more than $1.16 billion between consecutive trading sessions.
According to Farside Investors’ Bitcoin ETF tracker, BlackRock’s iShares Bitcoin Trust led the reversal with $254.1 million in net outflows. Fidelity’s FBTC lost another $217.5 million and ARK 21Shares’ ARKB recorded $109.4 million of redemptions, concentrating most of the day’s negative flow among three products.
Bitwise’s BITB lost $27.4 million and Grayscale’s GBTC recorded $29.5 million in outflows. Morgan Stanley’s MSBT was the exception, attracting approximately $2.3 million, while the remaining tracked funds finished unchanged. IBIT, FBTC and ARKB together accounted for roughly 91% of the aggregate Bitcoin ETF withdrawal.
Bitcoin ETF Flows Reverse Again
The October 22 decline reinforces the volatility that has characterized ETF creations and redemptions this month. Just three sessions earlier, Bitcoin products attracted $526.7 million in net inflows, led by a $665.2 million creation in IBIT. Large positive and negative sessions have repeatedly appeared within days of one another rather than forming a consistent directional flow.
Earlier in October, the same funds recorded $244.1 million of net outflows during a second consecutive negative session. September produced the opposite extreme when Bitcoin ETFs attracted $999 million in one day. The recent history shows why a single ETF session is insufficient to establish a durable allocation trend.
Bitcoin declined around 3% during the October 22 trading day, moving from roughly $84,000 toward $81,400. The ETF redemptions coincided with the price decline but do not establish that fund flows caused the selloff, since spot trading, derivatives positioning, macro conditions and ETF arbitrage can move simultaneously.
Ether ETFs Join the Redemption Session
U.S. spot Ethereum ETFs moved in the same direction. Farside’s Ethereum data show $110.6 million in net outflows on October 22, reversing the $14.9 million inflow recorded during the previous session.
BlackRock’s ETHA accounted for $75.5 million of withdrawals, while Fidelity’s FETH lost $17.2 million. Grayscale’s ETHE and Mini Trust recorded another $9.6 million and $10.7 million of outflows respectively, partially offset by $2.4 million entering ETHW. Bitcoin and Ethereum ETFs therefore lost approximately $746.2 million combined during the session.
Ether funds have experienced particularly uneven flows after recently ending a 10-session redemption streak. The return to a triple-digit daily outflow underscores that the earlier positive session did not establish a sustained recovery in net creations.
Bitcoin and Ether prices both moved lower as the ETF withdrawals were recorded, but the investor composition behind those fund flows remains unknown. The October 22 data establish a sharp reversal in regulated crypto ETF creations and redemptions, not evidence of a uniform institutional exit from digital assets.