U.S. Bitcoin and Ethereum spot ETFs see zero inflows

Bitcoin spot ETFs recorded a total net outflow of $488.4 million on October 30, with all 12 funds recording zero inflows. Ethereum spot ETFs also saw a total net outflow of $184 million, with no inflows across nine of its funds.

Solana ETFs posted a total net inflow of $37.33 million, marking a three-day streak of inflows. Bitwise’s SOL ETF led with a total net inflow of $36.55 million, followed by Grayscale’s Solana ETF with a total of $780,500 net inflows for the day.

IBIT leads in Bitcoin ETF outflows

Yesterday, U.S. Spot Bitcoin ETFs saw a net outflow of –$93M, highlighting rising sell pressure from TradFi investors and renewed weakness in institutional demand.

📈https://t.co/BIeP5pVLcm https://t.co/eeLs2p6XvV pic.twitter.com/zNeccTdXNj

— glassnode (@glassnode) October 30, 2025

Among Bitcoin spot ETFs, BlackRock’s IBIT saw a total of $290.9 million in outflows, with Fidelity’s BTC ETF seeing $46.55 million in outflows. Ark & 21Shares’ and Bitwise’s spot BTC funds also posted outflows totaling $65.62 million and $55.15 million, respectively.

BlackRock’s spot Ethereum ETF recorded $118 million in outflows, followed by Bitwise’s spot ETF fund, with a total of $31.14 million in outflows. Fidelity’s ETH ETF recorded $18.53 million in outflows, while Grayscale’s spot Ethereum fund posted zero flows for the day.

Despite the withdrawals in Bitcoin ETFs, IBIT remained the leading fund globally, with more than 805,000 BTC in its balance sheet, worth about $87 billion at current spot prices. Fidelity’s FBTC follows with roughly 295,000 BTC in its holdings, while Grayscale’s GBTC currently manages approximately 270,000 BTC after months of redemptions.

On Wednesday, spot Bitcoin ETFs recorded a total of $471 million in withdrawals, with no inflows across all 12 ETFs. Spot Ethereum ETFs saw a total net outflow of $81.44 million, with BlackRock’s WTHA being the only ETF to record inflows.

At the time of publication, Bitcoin has dropped by more than 1.4% and is currently trading at $109,345. BTC is also down nearly 5.6% for the month.

Bitcoin’s price drop was fueled by anxiety around the Federal Reserve’s plan for future rate cuts. Fed chair Jerome Powell said yesterday that another rate cut in December is far from guaranteed.

COO at crypto exchange Bitget, Vugar Usi Zade, argued that Powell’s remarks prompted traders to scale back expectations. He noted that Bitcoin and Ethereum ETFs showed signs of investor caution as they collectively recorded outflows since yesterday.

Polymarket showed a 71% chance of a quarter-point rate cut at the Fed’s December meeting, down from around 90% before Powell’s remarks. The CME FedWatch tool showed a 67% chance of the Fed cutting rates before year-end.

Binance Whale Ratio surges, signaling potential selloffs

CryptoQuant’s latest weekly report revealed that U.S. investor demand for crypto has dropped sharply, with spot BTC ETFs recording their weakest seven-day average outflow of 281 BTC since April. The CME futures basis also dropped to multi-year lows, suggesting that profit-taking by institutional and retail traders was the primary driver, rather than additional exposure.

CryptoQuant analysts have noted a concerning trend emerging on the Binance crypto exchange following the October 10 market crash. The Exchange Whale Ratio showed a significant and steady surge in whale activity, from an exponential low of 0.33 on October 12, to a high level of 0.41 between October 22 and 25.

The analytics platform suggested that the change in activity indicates that large holders are consistently transferring substantial amounts of BTC to Binance. CryptoQuant warned that the divergence with the rise in Bitcoin’s price signals that the largest players are increasing their potential sell-side liquidity. 

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