Invest2 publishers2 min readPublished
Ark and Fidelity redemptions outweigh BlackRock's $69.85 million bitcoin ETF inflow
US spot bitcoin ETFs lost a net $89.9 million on Monday as $159.8 million left ARKB and Fidelity's FBTC while BlackRock's IBIT took in $69.85 million. One session that followed about $293 million of inflows is thin evidence that buyers are settling on a single fund.
The Investor · Invest desk
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What happened
- Bitcoin traded at $85,559, about 32% below the $126,080 record it set on Oct. 6, 2025, according to CoinGecko data cited by Cointelegraph.
- Cumulative net inflows into US spot bitcoin ETFs have slipped from about $61.3 billion to $57.7 billion since that record, according to SoSoValue.
- Spot ether ETFs posted a fifth straight day of outflows, and the streak has now removed $206 million from the funds.
- Bitwise's NRR, a NEAR fund launched last week, took in $539,640, the only inflow among US crypto ETFs on Monday.
Compiled by The InvestorSomething wrong?How this is made
Why it matters
- contradiction Bitcoin.com News describes demand narrowing toward IBIT, yet on Cointelegraph's SoSoValue figures bitcoin funds are still about $203 million net positive across October's first three sessions.
- constraint A net outflow equal to 0.08% of assets is too small to show institutions moving between funds; testing the concentration claim requires fund-level flows over several sessions.
- exposure Fund assets now move mainly with bitcoin's price: a fall of about 3.3% would take off as much as the $3.6 billion holders have withdrawn in a year.
- constraint BlackRock's ETHA led Monday's ether outflows, so the preference visible in bitcoin flows attaches to IBIT and does not extend to BlackRock's other crypto funds.
ARKB's $85.21 million exit [6] and FBTC's $74.55 million [7], less IBIT's $69.85 million intake [8], come to a net outflow of $89.91 million [20]. The category as a whole lost $89.90 million [1], so every other US spot bitcoin fund, taken together, ended Monday close to flat [20]. Ark and Fidelity redeemed about $2.29 for every dollar BlackRock took in [24].
Bitcoin.com News presents the split as a trend, writing that recent bitcoin ETF demand "has increasingly favored the largest vehicles, particularly IBIT, while redemptions elsewhere have become more frequent" [25]. The outlet did not publish the fund-level figures from earlier sessions behind that statement. Cointelegraph's figures, from SoSoValue, cover the days just before Monday: bitcoin funds took in about $293 million over the two preceding October sessions [9].
Set against the price, the flows are small. Bitcoin sits about 32% below its October 2025 record [10], and over that year holders have pulled a net $3.6 billion [14], or 5.8% of cumulative inflows [3]. Monday's outflow equals about 0.08% of the funds' $110.77 billion in net assets [2] [15] and about 4% of the $2.18 billion in trading value that day [16].
The ether funds test whether buyers favor BlackRock or a single BlackRock product. Ether ETFs lost $50.76 million on Monday [4], and BlackRock's ETHA, down $31.88 million, and Fidelity's FETH, down $18.88 million [11], account for all of it [22]. BlackRock had the larger outflow. Measured against the ether funds' $17.69 billion of net assets [12], Monday's withdrawal was about 0.29%, roughly three and a half times the bitcoin rate [23], and the five-day streak has taken out about 1.2% [17].
If IBIT keeps taking money while FBTC and ARKB keep redeeming through the week [8] [6] [7], the concentration claim gets a multi-session record behind it. A return to inflows at Fidelity and Ark would make Monday a one-day reversal inside a positive stretch [21]. Should IBIT turn negative, the bitcoin funds would start to resemble the ether funds, where BlackRock's product led the exits [11].
I think the evidence supports the narrow version: on Monday, buyers chose IBIT, and the preference did not reach BlackRock's ether fund [8] [11]. A run of sessions in which IBIT and ETHA both take in money while Fidelity's two funds lose it would point to BlackRock itself as the destination and prove that reading wrong [8] [11].
What to watch
- IBIT's daily flows for the rest of the week: a single outflow day would put the bitcoin funds on the pattern the ether funds have followed.
- Whether FBTC and ARKB keep redeeming or swing back to the inflows bitcoin funds posted in the two sessions before Monday.
- A sixth straight day of ether ETF outflows, and whether ETHA again accounts for the larger share.