BlackRock’s two flagship spot crypto funds were swept up in another volatile session as investors pulled close to $600 million from U.S. bitcoin and ether ETFs on Oct. 17, according to flow trackers that compile issuer disclosures.
The iShares Bitcoin Trust (IBIT) recorded a one-day net outflow of $268.61 million, while the iShares Ethereum Trust (ETHA) shed $146.06 million.
Broadly across the market, bitcoin ETFs lost roughly $366.6 million and ether ETFs about $232.3 million, bringing combined redemptions near the $600 million mark.
The pullback came as crypto prices wobbled following a midweek slide. Bitcoin briefly slipped below $105,000 on Oct. 16 before stabilizing, a move that coincided with the second-heaviest single-day outflow for the spot bitcoin cohort this month.
The twelve U.S. bitcoin funds collectively reported $536 million in withdrawals that day, led by large redemptions at several rivals, with IBIT also in the red. Redemptions have see-sawed all week.
On Monday, combined net outflows across spot bitcoin and ether ETFs swelled to about $755 million in the wake of a weekend wipeout, with BlackRock’s ETHA posting a $310 million withdrawal that ranked as one of its worst daily prints since launch.
By midweek, some issuers briefly flipped back to inflows before Thursday’s renewed selling. Flows are sensitive to price swings and funding conditions, and they can reverse quickly.
IBIT still dominates assets in the category after a blockbuster first year, and ETHA gathered billions in the early weeks following approval of U.S. ether ETFs this summer.
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But sharp intraday moves have encouraged fast money to exit on down days and re-enter on rebounds, magnifying the daily noise in reported flow tallies.
For now, the message from Thursday’s tape was clear: investors used the rally’s pause to de-risk. The bitcoin complex showed the heavier selling, but the ether side was not spared.
ETHA’s $146.06 million outflow topped the list for ether products on the day, followed by Fidelity’s FETH at $30.61 million and Grayscale’s ETHE at $26.13 million, according to the same disclosures.
Even so, the broader context helps explain how quickly sentiment can turn. A month ago an altcoin rally heats up narrative was pulling cash into riskier corners as bitcoin hovered near records.
Wall Street’s courtship of digital assets continued apace, with listings such as Gemini goes public on Nasdaq and capital commitments like Nasdaq doubles down on crypto.
Policy risk remains a swing factor too, as shown when Senate Democrats reveal bold plan to reshape the U.S. market adds uncertainty around fees, custody, and market structure.
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IBIT’s one-day $268.61 million withdrawal is sizable, yet it follows long stretches of consistent inflows and does not, by itself, alter the product’s share of the category.
Likewise, Thursday’s $232.3 million in ether ETF outflows was concentrated at the largest vehicles and could fade if prices stabilize.
The next test arrives with weekend liquidity and next week’s macro data, which often set the tone for crypto risk appetite.
