Bitcoin ETFs Shed $137.94M Friday as Zcash ETF Extends Inflow Streak
By Satoshi’s Wire
October 25, 2026
Friday’s U.S. spot Bitcoin ETF tape answered the desk’s Thursday question. A Sunday wrap from Bitcoin.com News, citing settled Friday flows, puts net outflows at $137.94 million — a second red day after the about $635.6 million Thursday hole already covered in U.S. Spot Bitcoin ETFs Shed About $635.6M Thursday as October Flips Red. BlackRock’s IBIT led Friday’s exit at $110.34 million, Fidelity’s FBTC shed $31.78 million, and Morgan Stanley’s MSBT was the lone Bitcoin-fund inflow at $4.19 million. Friday trading value fell to $1.33 billion with Bitcoin ETF net assets near $104.43 billion. Attribute those figures to the Sunday desk wrap of SoSoValue-style settled prints — not a fresh Monday open.
The week’s shape is the degen point. Bitcoin ETFs took more than $1 billion across Monday through Wednesday, then gave back $635.49 million Thursday and another $137.94 million Friday — roughly $773 million in two sessions of selling after the midweek surge. Separate TokenPost and BeInCrypto week-ended tallies still put the full Friday week roughly $300–$301 million net positive for Bitcoin funds despite the late bleed; treat that weekly cushion as a different cutoff from the two-day hole, not a contradiction. Spot Bitcoin sat near $80,400 on the Bitcoin.com Sunday check — softer bid-currency weather for NFT floors even when wrappers finish the week green on paper.
Ether and privacy wrappers split the selective tape. Ether ETFs posted a clean $4.35 million Friday inflow with no fund in the red — Fidelity’s FETH $3.58 million and Morgan Stanley’s MSSE about $773,440 — on $392.93 million of trading value and about $14.64 billion in net assets. Grayscale’s Zcash ETF ZCSH extended a three-day inflow streak with $20.52 million Friday, lifting net assets to about $706.72 million; ZecZcash’s SoSoValue-sourced October table matches that Friday print as the month’s largest daily ZCSH inflow. BeInCrypto separately puts Zcash ETF weekly intake near $41.1 million — the strongest week since mid-September after three weeks of withdrawals. Bitwise’s NRR NEAR fund added about $992,730; XRP, Solana, and HYPE products printed flat on the same wrap.
Pipeline color stays secondary. Franklin Templeton filed two Nasdaq-listed products built around a 95% U.S. equity / 5% bitcoin sleeve with dividends routed into bitcoin and quarterly rebalancing — useful for how bitcoin keeps migrating into traditional portfolio wrappers, not a claim that Friday’s IBIT/FBTC selling reverses. Keep NU7 height and ZEC spot tape on the prior Dev Pulse chapter (10882); today’s Ape Index lead is the settled fund-flow split, not a protocol upgrade rehash.
For NFT desks, Friday’s Bitcoin ETF red day plus a weekend spot print near $80k is bid-currency weather: thinner risk appetite for speculative collectibles even when a privacy ETF like ZCSH still pulls targeted capital. Do not collapse Zcash fund inflows into OpenSea floor forecasts, and do not treat the ~$300 million weekly Bitcoin ETF cushion as proof that secondary NFT volume must rebound Monday. This chapter closes the Thursday Tape watch on 11095 with Friday’s numbers and the Zcash contrast — unused versus that prior LN and versus weekly NFT-sales wraps already on the Brief.
Tape watch: Watch Monday’s first U.S. session SoSoValue Bitcoin ETF net after the two-day ~$773 million hole, whether ZCSH extends its inflow streak into the new week, and whether spot BTC holds or loses the $80,000 handle as NFT bid currency into the Fed meeting window.
Bottom line: U.S. spot Bitcoin ETFs shed $137.94 million Friday — led by IBIT and FBTC — while Grayscale’s ZCSH took $20.52 million for a third straight inflow day after Thursday’s ~$636 million Bitcoin-fund hole.
Disclaimer: This article is provided for informational and educational purposes only. It does not constitute financial, investment, legal, or trading advice. The NFT market is highly volatile, and past performance is not indicative of future results. Readers should conduct their own research and consult qualified professionals before making any decisions related to digital assets. The cover image for this article may have been created using artificial intelligence (AI).
