US spot Bitcoin ETFs pulled in roughly $137 million in net inflows on October 28, extending a run of steady demand for the products, according to Crypto Briefing. Spot Ether ETFs moved in the opposite direction, shedding $21.41 million on the same day and stretching a pattern of consecutive withdrawals from the category.

The split matters because it shows investors rotating between the two largest regulated crypto fund categories rather than exiting them uniformly. Crypto Briefing said the research findings pointed to Alpha Finance and Farside Investors among the providers tracking the day's Bitcoin inflows.

IBIT leads the buying

Crypto Briefing named IBIT, the iShares Bitcoin Trust from BlackRock, as one of the biggest sources of the day's purchases. The October 28 inflow did not arrive in isolation: the products had already posted notable flows on October 26 and October 27, building a streak of steady demand going into the latest session.

Since launching in January 2024, US spot Bitcoin ETFs have built up roughly $57 to $58 billion in cumulative net inflows, and total assets under management across the group have surpassed $100 billion, according to Crypto Briefing. Other major issuers in the space include Fidelity, Grayscale, and Bitwise.

The buying came with Bitcoin changing hands between $80,000 and $81,500 in late October, according to the research findings. Altcoin Buzz had earlier looked at how ETF withdrawals, a falling Bitcoin price, and market liquidations interacted in its coverage of Bitcoin slipping below $81,000.

Ether funds bleed for a month

On October 28, spot Ether products gave up $21.41 million, adding to a run of back-to-back withdrawals over the period, Crypto Briefing reported. Ethereum ETF outflows approached $1.3 billion for October as a whole, a heavy month for a product group holding about $14 billion in total assets.

Crypto Briefing identified BlackRock's Ethereum fund, ETHA, as a major force behind the withdrawals. The spot Ethereum ETFs, which launched in July 2024, have pulled in about $12.5 billion in cumulative net inflows over their lifetime, and the group's total assets stand at roughly $14 billion.

Earlier in the week, SoSoValue data cited on October 27 showed US spot Ethereum ETFs losing $88.58 million in net flows on October 26. Altcoin Buzz had previously reported that Ether ETFs lost $72.54 million as outflows extended to eight days, with BlackRock's ETHA playing a central role in that trend.

A volatile October for Bitcoin funds

The late-month buying followed a rougher stretch earlier in October. Mid-month, Bitcoin ETF products recorded a $635 million outflow, a single day of selling that dwarfs the $137 million that came in on October 28, according to Crypto Briefing. That mid-October turbulence coincided with a sharp increase in Ethereum outflows.

Altcoin Buzz described a comparable pattern for the prior week: heavy redemptions hit Bitcoin funds in back-to-back sessions on October 22 and 23, and Ether products slipped back into negative flows on October 26 following one brief positive day. Bitcoin ETFs lost $137.94 million on October 23, according to data from SoSoValue, following a much larger $635.49 million outflow on October 22 that brought the two-session total to approximately $773.43 million.

The October 23 Bitcoin withdrawals were led by BlackRock's IBIT, which lost $110.34 million, while Fidelity's FBTC followed with approximately $31.78 million in net outflows, Altcoin Buzz reported. Moving against the trend, Morgan Stanley's MSBT was the sole Bitcoin fund to post net inflows that session, drawing $4.19 million.

Flows diverge inside each category

Fund-level data shows the aggregate figures conceal opposing movements among individual products. In the Ethereum market, BlackRock's ETHA recorded more withdrawals than the category's total, with $104.71 million leaving the fund on October 26 while an inflow of $16.13 million into Fidelity's FETH partly offset the decline, according to Altcoin Buzz.

The remaining Ethereum funds did not collectively attract enough capital to prevent the category from ending that session in negative territory. The October 26 pullback also erased a modest $4.35 million net inflow from October 23, the one day Ether funds had managed to stay positive, and Fidelity's positive flow suggests some investors continued to allocate capital to Ethereum exposure even as the category as a whole experienced net redemptions, Altcoin Buzz reported.

On October 26, the Ether ETF group held roughly $14.07 billion in total net assets, equal to about 4.99% of Ethereum's market capitalization, according to Altcoin Buzz. Despite the latest Bitcoin withdrawals, that category's cumulative historical net inflows stood at $57.18 billion, with IBIT alone accumulating approximately $66.13 billion and MSBT's cumulative figure reaching $775.57 million.

Crypto Briefing observed that BlackRock sits on both sides of the trade, which it said shows large firms can weather a rotation without losing clients, whereas smaller issuers reliant on a single product may feel the swings more sharply.

What the numbers do and do not show

Daily net flows provide a more direct measure of creations and redemptions than changes in total assets alone, since a group's total net assets may fall when investors pull money out, when the underlying cryptocurrency drops in value, or when both happen at once, according to Altcoin Buzz. A fund can experience short-term redemptions while retaining substantial capital accumulated over its lifetime.

The latest figures indicate that demand for regulated Bitcoin and Ethereum investment products remains uneven, but they do not establish that institutional investors have broadly abandoned either asset, Altcoin Buzz reported. Some funds continued to attract capital, and cumulative historical net inflows for both categories remained substantial.

ETF flows remain a useful measure of demand for regulated crypto exposure, but they are only one part of the market. Bitcoin and Ethereum prices can also respond to macroeconomic developments, derivatives positioning, liquidity, and broader investor sentiment, according to Altcoin Buzz.

Conclusion

US spot Bitcoin ETFs collected roughly $137 million on October 28, led by BlackRock's IBIT, capping a three-session run of demand, while spot Ether ETFs lost $21.41 million the same day and neared $1.3 billion in October outflows. Cumulative net inflows remain substantial for both categories, at roughly $57 to $58 billion for Bitcoin funds and about $12.5 billion for Ether funds.

The next several trading sessions will help determine whether the withdrawals continue or reverse, according to Altcoin Buzz. For Bitcoin, investors will be watching whether IBIT and FBTC return to positive flows and whether MSBT can maintain its inflow trend; for Ethereum, ETHA's future redemptions and FETH's ability to attract capital will clarify whether the latest decline was concentrated in one fund or reflects broader selling.

Frequently Asked Questions

How much did US Bitcoin ETFs take in on October 28?

US spot Bitcoin ETFs attracted roughly $137 million in net inflows on October 28, according to Crypto Briefing. BlackRock's iShares Bitcoin Trust (IBIT) was flagged as a leading contributor to the day's buying, and the inflow followed significant flows on October 26 and October 27.

Why did Ether ETFs see outflows on October 28?

Spot Ether ETFs shed $21.41 million on October 28, extending a pattern of consecutive withdrawals, Crypto Briefing reported. BlackRock's Ethereum fund, ETHA, was identified as a significant driver of the outflows, and Ethereum ETF outflows approached $1.3 billion for October as a whole.

What are the cumulative inflows for US spot Bitcoin ETFs since January 2024?

Cumulative net inflows into US spot Bitcoin ETFs have reached roughly $57 to $58 billion since the funds launched in January 2024, according to Crypto Briefing. Total assets under management across the group have surpassed $100 billion.

Which funds drove the October 23 Bitcoin ETF outflows?

BlackRock's IBIT recorded the largest withdrawal on October 23, losing $110.34 million, while Fidelity's FBTC saw approximately $31.78 million in net outflows, Altcoin Buzz reported, citing SoSoValue data. Morgan Stanley's MSBT was the only Bitcoin fund with a net inflow that session, attracting $4.19 million.

How large are US spot Ethereum ETFs compared with Ethereum's market value?

Ethereum ETFs held approximately $14.07 billion in total net assets on October 26, representing around 4.99% of Ethereum's market capitalization, according to Altcoin Buzz. The funds, which debuted in July 2024, have gathered about $12.5 billion in cumulative net inflows since inception.