U.S. Bitcoin Funds Record $643.2 Million in Outflows on Oct. 30
Key Facts
U.S. spot bitcoin funds recorded net outflows of $643.2 million on Friday, Oct. 30, the latest completed session that could be verified during the data review. SatoshiNakamoto.TV, citing Farside tables, reported that data for Monday, Nov. 2, was expected to be published after the market close, so figures for that session in the previous draft did not reflect the latest data available at the time. IBIT was the largest source of outflows in the Oct. 30 session, with net outflows of $233.7 million, followed by FBTC with outflows of $201 million. U.S. ether funds also recorded outflows in the same session, extending a streak to five consecutive days. The figures place a single day’s activity in the context of a weaker month for bitcoin funds, following strong inflows in the prior month.
IBIT’s outflow came at the end of October after four consecutive days of inflows to the fund, according to the source. Even so, the fund ended the month with net inflows of about $932.1 million, according to SatoshiNakamoto.TV’s calculation, highlighting the difference between the final session and the monthly total. Across all U.S. bitcoin funds, net outflows in October were about $515.9 million, according to the same calculation. That compares with net inflows of about $2.648 billion in September. The comparison shows a shift in monthly net flows between September and October, while IBIT itself still posted positive monthly flows despite its Oct. 30 outflow.
Ether funds had a more negative month, with net outflows of about $1.607 billion in October. The source described this as the largest monthly net outflow in Farside’s table for ether funds, based on its calculation. In the latest completed session, Oct. 30, the funds recorded their fifth consecutive day of net outflows. Flow figures alone do not mean institutional demand for crypto assets declined more broadly; they measure net money moving into or out of the funds. Data for the Nov. 2 session had also not been included in the table the source used for its review.
The flow watch coincided with the U.S. midterm elections, which an Associated Press report said are held on Tuesday. The agency reported that voters are deciding whether the balance of power in Washington will shift, and that the results will determine which party controls Congress during the final two years of President Donald Trump’s term. Among upcoming economic data, the Bureau of Labor Statistics scheduled the October jobs report for Nov. 6 at 8:30 a.m. Eastern time. The bureau also scheduled its October Job Openings and Labor Turnover Survey (JOLTS) report for Dec. 1 at 10:00 a.m. Eastern time. These are the two releases listed on the calendar for monitoring after the available flow data for the Oct. 30 session.