Bitcoin’s Friday Reversal Erases 4 Days of ETF Buying

For most of the week, bitcoin exchange-traded funds (ETFs) appeared to be quietly rebuilding momentum. Then Friday arrived.

Funds attracted $110.34 million Monday, $175.99 million Tuesday, $137.33 million Wednesday and another $17.07 million Thursday. The four-day total reached $440.73 million.

A $643.33 million withdrawal Friday wiped it all away. The result was a $202.59 million weekly outflow and a fitting end to a difficult October for institutional bitcoin demand.

Bitcoin’s Late Reversal Changes the Weekly Picture

Blackrock’s IBIT still finished the week with $176.9 million in net inflows, despite losing $233.70 million on Friday. Fidelity’s FBTC ended with $165.97 million in withdrawals. Ark & 21Shares’ ARKB lost $129.55 million, while Grayscale’s GBTC shed $53.32 million.

That fund-level split offers a useful read on positioning.

Buying during the first half of the week repeatedly leaned on IBIT. Friday’s selling spread across the largest products, including IBIT and FBTC, and came alongside a surge in bitcoin ETF turnover to $6.35 billion.

The previous week had produced roughly $304.7 million in net inflows. Moving from that gain to a $202.6 million loss shows how quickly institutional positioning around bitcoin’s price can still reverse.

October ended with approximately $515 million in bitcoin ETF withdrawals, snapping three consecutive positive months that had generated more than $6.2 billion in combined inflows.

Ether and Solana Carry the Heavier Pressure

Ether delivered the more persistent signal.

Spot ether ETFs lost $431.53 million, nearly double the previous week’s roughly $220.6 million outflow. It was their fifth consecutive negative week, taking cumulative withdrawals over that stretch to about $1.65 billion.

Every session from Monday through Friday finished negative, with losses accelerating to $105.48 million Thursday and $155.85 million Friday.

That consistency separates ethereum from bitcoin’s more volatile, two-way flow pattern. Institutional buyers continue to appear in selected ether funds, particularly Fidelity’s FETH, but redemptions elsewhere have remained larger.

Solana also deteriorated sharply.

SOL ETFs lost $71.47 million, their largest weekly outflow on record and a fourth consecutive negative week. That compares with just $17.30 million in withdrawals the previous week.

The worsening flow trend suggests investors remain especially cautious toward higher-beta crypto exposure.

Zcash Bucks the Broader Retreat

The smaller ETF categories produced a more fragmented picture.

Zcash funds attracted $17.72 million for the week. ZCSH extended its inflow streak to eight sessions before Friday’s $4.57 million withdrawal finally ended the run.

XRP ETFs finished with $4.32 million in net inflows, helped by Thursday’s $8.43 million addition. HYPE was nearly flat, posting a modest $594,990 weekly outflow.

NEAR recorded its first negative week since launch, losing $3.43 million. That marks a notable change for a product that had repeatedly attracted capital during October’s broader selloff.

The setup for November is therefore unusually divided.

Bitcoin needs broader, sustained buying to recover from Friday’s high-volume reversal. Ether enters the new month facing five straight weeks of redemptions, while solana must break an increasingly entrenched withdrawal trend.

Zcash, meanwhile, has shown that institutional capital has not disappeared from crypto. It has become far more selective about where it is willing to stay.

Bitcoin’s founding paper proposed a way to send money without a bank. Eighteen years later, its reach spans Wall Street…