TL;DR: US spot Ethereum ETFs recorded $201.9 million in net outflows on October 6, according to Farside Investors. Bitcoin ETFs moved the other way with roughly $118.8 million of net inflows, creating a sharp one-day divergence between institutional flows into the two largest crypto assets.
Ethereum’s US spot ETFs just suffered their heaviest day of withdrawals in weeks.
Data from Farside Investors shows the group recorded $201.9 million in net outflows on October 6, extending a difficult start to the month for Ether investment products.
The entire daily outflow shown by Farside came from BlackRock’s ETHA, while the other tracked products recorded no net movement for the session.
The size of the withdrawal stands out on its own.
But the contrast with Bitcoin makes the session more notable.
US spot Bitcoin ETFs recorded approximately $118.8 million in net inflows on the same day, with BlackRock’s IBIT accounting for $122 million of positive flow before smaller movements elsewhere in the group.
That left the market with a clear divergence: investors were adding money to Bitcoin products while pulling more than $200 million from Ethereum funds.
A single day of ETF flows should not be treated as a referendum on either asset.
Institutional products regularly experience large creations and redemptions for reasons ranging from portfolio rebalancing to short-term trading strategies.
But the October 6 numbers sit inside a broader run of negative Ethereum ETF sessions.
Farside recorded $55.4 million of ETH ETF outflows on October 1, $37.4 million on October 2 and another $50.8 million on October 5 before the much larger October 6 withdrawal.
That makes the latest session harder to dismiss as an isolated print.
ETF flows matter because the products have become one of the cleanest gauges of demand from investors who want crypto exposure through traditional brokerage and asset-management channels.
For Bitcoin, that channel has repeatedly attracted substantial capital.
Ethereum’s products have also accumulated meaningful assets, but their flow profile has at times been less consistent.
The question now is whether the October withdrawals represent a temporary repositioning or the beginning of a more persistent gap between institutional demand for BTC and ETH.
The next few sessions should make that clearer.
For now, however, the message from October 6 is unusually clean.
Bitcoin ETF investors were buying.
Ethereum ETF investors were heading for the exits.
