Bitcoin ETF Withdrawals Reverse October Recovery as IBIT Leads Exits

US spot Bitcoin ETFs suffered roughly $636 million in withdrawals on Thursday, returning October flows to negative territory after a brief recovery. Reports also show withdrawals from other crypto funds, although positive weekly Bitcoin flows and XRP subscriptions complicate a uniformly bearish reading.

Thursday’s withdrawals overturn the monthly recovery

US spot Bitcoin ETFs lost $635.6 million on Thursday, according to Decrypt, reversing October’s return to positive flows. The outlet put the month’s balance at approximately $176 million in net withdrawals, compared with roughly $460 million in net subscriptions a day earlier.

The reversal interrupted a recovery rather than extending an uninterrupted retreat. Decrypt reported that the preceding three sessions had attracted roughly $1.07 billion, with Thursday’s withdrawals erasing nearly 60% of that amount. It described the session as October’s largest daily exit.

The scale matters because net flows measure whether subscriptions outweigh redemptions across the funds. A negative session signals money leaving the ETF structure on balance, but does not by itself explain investors’ motives or establish how other Bitcoin holders behaved.

IBIT leads, while reporting totals differ slightly

The Block identified BlackRock’s IBIT as the largest contributor to Thursday’s withdrawals, reporting $254.1 million in net outflows. Its summary said four other funds also experienced withdrawals, adding a fund-level detail absent from the other accounts.

Cointelegraph, citing SoSoValue, reported $635 million in daily Bitcoin ETF withdrawals and a negative October balance of $175 million. Those totals differ slightly from Decrypt’s $635.6 million daily figure and approximately $176 million monthly deficit. The reports do not explain the differences.

Their comparisons also use different reference points. Decrypt ranked the withdrawal against other October sessions, while Cointelegraph called it the largest since June 25, when exits reached $696 million. Both accounts describe a substantial reversal, but their figures should remain attributed rather than combined into a supposedly definitive total.

A negative month still contains a positive week

Cointelegraph reported that Bitcoin ETFs retained $443 million in net subscriptions for the week despite Thursday’s reversal. It also said the recovery followed two consecutive weeks of withdrawals. That distinction prevents the daily result from being mistaken for a negative reading across every reporting period.

The same report put Wednesday’s subscriptions at $528 million and the preceding three-session recovery at $1.08 billion. Decrypt’s corresponding recovery figure was roughly $1.07 billion. Both accounts therefore show that Thursday overwhelmed the previous session’s gains without eliminating the entire recent rebound.

The longer-term balance remained positive in Decrypt’s account, with cumulative net subscriptions since launch of $57.8 billion and total net assets of $100.2 billion. These measures answer different questions: flows track money entering and leaving, while net assets describe the funds’ holdings by value.

Other crypto ETFs weaken, but XRP attracts money

The withdrawals extended beyond Bitcoin. Decrypt reported Ethereum ETF exits of $110.6 million, taking October’s losses to roughly $1.18 billion. It said the negative session came immediately after those funds broke a five-day withdrawal streak.

Solana ETFs lost $8.9 million, according to Decrypt, leaving approximately $68 million in October withdrawals. The outlet reported that Solana funds had registered inflows on just two days during the month. Cointelegraph’s rounded Ethereum and Solana figures broadly matched that account.

Cointelegraph added approximately $8 million in withdrawals from Hyperliquid ETFs, while XRP funds attracted around $3.6 million. That exception matters: the session showed widespread ETF redemptions, not identical demand across every asset. Separately, Coinvote’s new Ethereum token listings track project discovery rather than ETF subscriptions, a distinction for teams assessing different forms of market participation.

Price resilience limits what the flow reversal can explain

Decrypt placed the withdrawals alongside broader market weakness, reporting oil above $111 a barrel and declines in AI stocks and global equities. That establishes the surrounding market conditions, not proof that any particular development caused the ETF redemptions.

Its subsequent price account was comparatively subdued: Bitcoin traded near $81,460 on Friday, approximately unchanged over the preceding day. Cointelegraph, publishing earlier, reported Bitcoin near $81,783 and down around 1%. Those differently timed observations should not be treated as contradictory measurements of the same moment.

ETF flows and crypto prices need not move together mechanically. Exchange trading involves participants outside the funds, while ETF subscriptions and redemptions capture a particular investment channel. The restrained response described by Decrypt therefore matters as a limit on interpretation, rather than evidence that withdrawals had no significance.

Subsequent flows will test whether the recovery resumes

The next reported sessions will show whether October’s renewed deficit persists and whether the positive weekly balance survives. Fund-level reporting will also clarify whether IBIT continues to lead withdrawals or the distribution changes. Neither outcome follows automatically from Thursday’s result.

Decrypt identified the Federal Reserve’s Oct. 27-28 meeting as an upcoming event and reported that traders expected rates to remain unchanged. That expectation is market context, not a confirmed policy decision or an explanation for the withdrawals already recorded.

For holders and project teams, the useful distinction is between a daily reversal, a monthly deficit and longer-term accumulated subscriptions. Ethereum and Solana’s monthly losses, alongside XRP’s positive session, make asset-specific reporting more informative than treating all crypto investment products as a single trade.

Market snapshot

Asset	Price	24h	7d	Market cap
Bitcoin (BTC)	$80,567	-1.2%	-1.2%	$1.62 trillion
Ethereum (ETH)	$2,366	-1.2%	-2.8%	$289.05 billion
XRP (XRP)	$1.28	-2.7%	-1.9%	$80.88 billion
Hyperliquid (HYPE)	$75.43	-2.9%	-5.6%	$16.78 billion

CoinGecko data as of 2026-10-24 (UTC); DeFi TVL from DefiLlama: Ethereum $49.05 billion, Solana $5.77 billion.

On Coinvote

• New Solana Tokens Listed Today: 3,708 projects tracked, 42 new listings in 7 days, 908 community votes today.
• Best Solana Meme Coins Today: 2,422 projects tracked, 26 new listings in 7 days, 423 community votes today.
• New Ethereum Tokens Listed Today: 2,927 projects tracked, 1 new listing in 7 days, 71 community votes today.
• Best Ethereum Meme Coins Today: 256 projects tracked, 0 new listings in 7 days, 5 community votes today.

FAQ

How much did Bitcoin ETFs lose on Thursday?

Decrypt reported $635.6 million in net withdrawals, while Cointelegraph reported $635 million using SoSoValue figures. The Block identified IBIT as the largest contributor, with $254.1 million leaving the fund.

Were Bitcoin ETF flows negative for both October and the week?

October returned to a deficit, reported as approximately $176 million by Decrypt and $175 million by Cointelegraph. However, Cointelegraph still reported positive weekly flows of $443 million.

Did every crypto ETF category experience withdrawals?

No. Cointelegraph reported withdrawals from Ethereum, Solana and Hyperliquid ETFs, but approximately $3.6 million in subscriptions to XRP funds.

Sources

• Decrypt: Bitcoin ETFs Bleed $636 Million as October Turns Red Again (2026-10-23)
• The Block: Bitcoin ETFs swing back to net outflows as $636 million in withdrawals erase previous day’s inflows (2026-10-23)
• Cointelegraph: Bitcoin ETFs bleed $635M as October slides back into the red (2026-10-23)
• CoinGecko (market data), DefiLlama (TVL), Coinvote listing and vote data