US Bitcoin and Ethereum ETFs experience divergent flows in October

US-listed spot Bitcoin ETFs have shown signs of rebuilding institutional demand, recording significant inflows throughout late October. Despite a period of high volatility that included a $635.6 million outflow on October 22, recent sessions have seen steady buying. For instance, Bitcoin ETFs attracted $175.99 million on one Tuesday and $137 million on another, helping push October’s cumulative net flows into positive territory at approximately $111 million.

In contrast, Ethereum ETFs are facing a severe downturn. Spot Ether products have experienced a persistent streak of withdrawals, with outflows approaching $1.35 billion for the month of October. This represents one of the worst months for Ethereum ETFs since 2018. BlackRock’s ETHA has been a primary driver of these redemptions.

The divergence in capital movement comes amid broader macroeconomic uncertainty, including the Federal Reserve’s decision to maintain interest rates between 3.75% and 4%. While Bitcoin has traded near the $80,000 mark, Ethereum has faced downward pressure, dropping significantly from its September highs.