U.S. spot Bitcoin ETFs recorded $137M in net inflows on October 28, while Ethereum ETFs saw $21.4M in outflows, with BlackRock and Fidelity leading their respective flows.
Macro & Markets ·
On October 28, U.S. spot Bitcoin ETFs attracted $137 million in net inflows, with BlackRock's IBIT accounting for $136 million. Meanwhile, spot Ethereum ETFs posted $21.4 million in net outflows across the market, though Fidelity's FETH drew $18.78 million individually, making it the largest single inflow into an Ethereum product that day.
The divergence reflects uneven sentiment between Bitcoin and Ethereum venues. Bitcoin's flow strength came primarily from one dominant issuer, while Ethereum's overall outflow persisted despite notable inflows into a specific product, suggesting capital reallocation across the Ethereum ETF complex rather than uniform demand.
What remains unclear is the source of outflows from Ethereum ETFs outside Fidelity's FETH, the triggers behind the single-day inflow pattern, and whether these flows represent sustained positioning or temporary trading activity.