Bitcoin ETFs add $550m in two days as ether funds keep losing money

Key points

• BlackRock's IBIT drew $29.9m on Tuesday and Bitwise's BITB lost $10.3m, with Bitcoin ETF net assets at $106bn.
• BlackRock's ETHA accounted for $33m of ether ETF redemptions; ether funds lost $129m across Monday and Tuesday.
• Solana ETFs shed $2.65m through Grayscale's GSOL, a 12th straight outflow session, and Bitwise's NEAR product lost $2.54m for its first outflow.

BlackRock's IBIT attracted $29.9m and Fidelity's FBTC added $3.58m, while Bitwise's BITB shed $10.3m. Trading value reached $1.92bn and net assets closed at $106bn.

The sharp slowdown from Monday suggests the market has moved past its initial repositioning, though a second positive session is a firmer signal than Monday's headline alone. It follows a week in which Bitcoin ETFs lost about $229m.

Ether funds stayed under pressure. BlackRock's ETHA accounted for $33m in redemptions, partly offset by $3.63m into Fidelity's FETH and $3.25m into Grayscale's Ether Mini Trust. Ether ETFs lost $320m in the week of 12 October and a further $129m across Monday and Tuesday, a widening gap with Bitcoin.

Solana ETFs lost $2.65m through Grayscale's GSOL, a 12th consecutive outflow session, and HYPE funds shed $7.34m. Bitwise's NEAR product lost $2.54m, its first outflow. Zcash drew $1.61m into Grayscale's ZCSH and XRP funds were flat. Andrew Parish of AP Abacus said Morgan Stanley's MSBT, which has seen no outflows, reflects long-term allocations of about 1% to 2% of a portfolio made through advisers.

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