BREAKING: Crypto ETFs Lose Over $1 Billion in October as Wall Street Pulls Back From Bitcoin and Ethereum
Wall Street is pulling money out of crypto funds at the fastest pace since June. U.S. spot Bitcoin and Ethereum ETFs together recorded about $986 million in net outflows through Thursday, and Friday's numbers pushed the October total over $1 billion. Counting all listed crypto ETFs, about $1.29 billion left in a single week.
Bitcoin funds took the biggest hit. Spot Bitcoin ETFs lost about $679 million from Monday to Friday, a sharp turn from about $241 million of inflows the week before. Wednesday alone saw about $485 million leave, the biggest single-day outflow since June 25, followed by about $244 million on Thursday. Fidelity's FBTC and ARK 21Shares' ARKB accounted for most of the selling, while BlackRock's IBIT ended the week almost flat.
Ethereum funds look even weaker. Spot Ether ETFs have now posted nine straight days of net outflows, losing about $56 million on October 9 alone and roughly $697 million during the whole streak. That long run of selling shows institutions are cutting Ethereum exposure, not just taking profit for one day.
The ETF selling came while prices were already under pressure. Bitcoin fell to a low near $80,400 during the week before recovering back above $82,000 and briefly over $84,000, while Ethereum held near $2,500. Traders say the outflows matched the price drop rather than coming after a rally, which usually points to investors reducing risk ahead of big U.S. inflation data.
For traders, daily ETF flows are now the key signal to watch. There was one small sign of calm on October 9, when Bitcoin ETFs took in about $21 million and BlackRock's IBIT added about $22 million. If outflows slow for a few more days, Bitcoin could hold its $80,000 support area. If another very large outflow day appears, pressure could quickly return toward that level.
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: CryptoCompass, CoinCentral, TalkMarkets, Cointime