Fed Uncertainty Triggers $550 Million Exit from Bitcoin and Ethereum ETFs

On October 29, U.S. crypto ETFs saw heavy withdrawals. Data from SoSoValue shows Bitcoin funds lost around $470.71 million, while Ethereum ETFs recorded outflows of $81.44 million.

Both assets dropped in value after Fed Chair Jerome Powell suggested during the October meeting that the recent 25 basis point rate cut may be the final one of 2025.

Bitcoin ETF Breakdown

Bitcoin ETFs saw a total net outflow of $470.71 million. Fidelity FBTC led with $164.36 million, Ark & 21Shares closely followed with $143.80 million.

Additional sell-offs were made by BlackRock IBIT $88.08 million, Grayscale GBTC $65.01 million, and Bitwise BITB $6.03 million. The smallest outflow was recorded by Grayscale BTC of 3.43 million. 

Contrary to yesterday, neither of the funds posted any gains. The total trading value surged to $7.07 billion, showing a strong rise. Net assets came in at $149.98 billion, representing 6.75% of the Bitcoin market cap. 

Ethereum ETF Breakdown

Ethereum ETFs saw total net outflows of $81.44 million, with trading activity limited to just five of the nine funds. Fidelity’s FETH led the withdrawals with $69.49 million, while VanEck’s ETHV saw the smallest outflow at $4.31 million.

Grayscale’s ETH and ETHE products also posted outflows of $16.18 million and $12.83 million, respectively. Meanwhile, BlackRock’s ETHA stood out as the only fund to record inflows, adding $21.36 million during the session.

Overall, Ethereum’s total ETF trading value reached $2.43 billion, slightly higher than the previous day. Total assets came in at $26.60 billion, representing about 5.58% of Ethereum’s total market capitalization.

Market Context

Bitcoin’s price fell again on Thursday, dropping 3.71% to $108,325.44. Its daily trading volume stood at $64.45 billion, while its market cap slipped to $2.17 trillion.

Ethereum also moved lower, trading at $3,904.19 after a 2.68% decline in the past 24 hours. The token’s trading volume reached $38.44 billion, and its market cap is now around $471.23 billion.

The latest comments from the Federal Reserve about halting further rate cuts have added uncertainty to the market, triggering volatility and selling pressure across cryptocurrencies.