TLDR
- Bitcoin ETFs recorded $40.47 million in net outflows on October 20, extending their losing streak to four straight days.
- BlackRock’s iShares Bitcoin Trust experienced the largest outflow, with $100.65 million pulled from its holdings.
- Despite the recent outflows, IBIT remains the top-performing Bitcoin ETF, with $64.88 billion in total inflows since launch.
- VanEck’s HODL ETF and Bitwise’s BITB saw inflows of $21.16 million and $12.05 million, respectively, during the same period.
- The total net asset value of Bitcoin ETFs now stands at $149.66 billion, covering 6.76% of Bitcoin’s market capitalization.
Bitcoin exchange-traded funds (ETFs) extended their outflow streak to a fourth day, pulling $40.47 million on October 20. Ethereum ETFs also recorded net redemptions of $145.68 million, adding pressure to the broader crypto market. These movements signal a notable deviation from the historically bullish trend for digital assets in October.
Bitcoin ETFs Record Fourth Straight Day of Outflows
Bitcoin ETFs recorded $40.47 million in net outflows on October 20, marking four straight days of redemptions. The most significant withdrawal came from BlackRock’s iShares Bitcoin Trust (IBIT), which saw $100.65 million pulled. Despite this, IBIT still holds a cumulative inflow total of $64.88 billion.
However, some ETFs attracted capital even as the broader market experienced outflows. VanEck’s HODL ETF gained $21.16 million in fresh inflows, while Bitwise’s BITB added $12.05 million. These gains, though positive, reflect strategic rebalancing rather than new bullish momentum.
The net asset value of Bitcoin ETFs currently stands at $149.66 billion, representing 6.76% of Bitcoin’s total market capitalization. Compared to October 2024, this figure reflects a slowdown in investor demand. Last year, Bitcoin ETFs generated $5.35 billion in inflows during the same period.
As of October 2025, new flows have totaled only $3.73 billion, marking a sharp decline. This shift comes despite October’s strong historical performance, where Bitcoin closed positively in 10 of the last 12 years. “Uptober,” as it’s called, is now under pressure amid recent selling trends and macro concerns.
Ethereum ETFs Post Third Day of Outflows
Ethereum ETFs saw another day of redemptions, losing $145.68 million in net outflows on October 20. This marks the third consecutive day of capital withdrawal from Ethereum-focused funds. Assets under management for Ethereum ETFs now total $26.83 billion.
BlackRock’s ETHA led the outflows with a $117.86 million decline in a single day. Fidelity’s FETH followed, recording $27.82 million in redemptions. VanEck’s ETHV and Bitwise’s ETHW posted no inflows during this period.
Despite recent losses, Ethereum spot ETFs have still attracted $14.45 billion in net inflows since their inception. The sharp pullback, however, erased gains made earlier in October’s brief rally. Funds had briefly neared the $15 billion mark before outflows reversed that progress.
Large Ethereum holders also reduced activity, adding more pressure. Treasury wallets, such as Sharplink and Bit Digital, reportedly slowed accumulation. Meanwhile, ETHZilla Corporation now holds losses exceeding $8 million, signaling a decline in confidence.
On-chain activity further reflects the cautious sentiment in Ethereum markets. Both the Ethereum Foundation and PulseChain Sacrifice wallets moved significant ETH recently. These transactions sparked speculation of internal repositioning contributing to the selling trend.
Broader Market Faces Macro Pressures
Bitcoin traded at $107,460 on October 20, down 2.5% on the day. Ethereum hovered around $3,884, shedding 17% in the last 14 days. These drops come despite October’s traditionally bullish trend.
Institutional sentiment has cooled due to macroeconomic and political developments. Ongoing U.S. government shutdowns and global trade tensions have increased market uncertainty. President Donald Trump’s tariff stance on China raised additional concerns.
Though Trump later called his 100% China tariff “not sustainable,” markets remain on edge. A meeting between Trump and China’s Xi Jinping is scheduled in South Korea later this month. Investors await clarity from that meeting before increasing risk exposure.
The Federal Reserve is also expected to cut rates twice this quarter. Analysts believe that could unlock part of the $7 trillion held in money market funds. If executed, some of that capital could flow into crypto markets, reviving demand for Bitcoin ETFs.
Yet, if ETF outflows persist, key technical levels could face tests. Bitcoin must hold above the $100,000 support to maintain long-term confidence. Ethereum also sees the $3,800 level as a crucial support zone for institutional interest.
Outlook for Bitcoin ETFs and Ethereum Funds
Demand for Bitcoin ETFs has slowed despite favorable historical patterns and market expectations. October has typically delivered double-digit gains, but this year’s results tell a different story. As of now, Bitcoin ETF outflows exceed $1.23 billion for the week.
Ethereum ETFs face a similar trend, with three consecutive days of heavy outflows. These exits have erased recent gains and reduced total fund holdings. Although early-month inflows suggested strength, the sentiment has since shifted.
“ETF flows act as a major sentiment gauge for institutional crypto exposure,” said a senior analyst at CoinGlass. “When outflows stretch across multiple days, it signals broad risk-off positioning,” the analyst added.
Unless macro conditions stabilize or prices rebound significantly, the outflows may continue. Both Bitcoin and Ethereum ETFs are vulnerable to further selling pressure if investor sentiment does not improve. For now, October’s bullish reputation is under scrutiny as market forces take a more cautious tone.
