US spot Bitcoin and Ether exchange-traded funds (ETFs) experienced significant net outflows totaling $549 million last week, continuing a trend of withdrawals for these major cryptocurrency-backed investment vehicles. Bitcoin ETFs saw outflows of $229 million, while Ether ETFs recorded higher outflows amounting to $320 million.
This marks the second consecutive week of net outflows for Bitcoin ETFs and the third consecutive week for Ether ETFs. The recent outflows follow a period of substantial withdrawals, with the previous week seeing a combined $1.22 billion in net outflows. In October alone, spot Ether ETFs have recorded approximately $955 million in net outflows, reportedly more than in any other month this year.
Despite these recent outflows, both Bitcoin and Ether ETFs maintain positive year-to-date performance. Bitcoin ETFs have attracted roughly $259 million in net inflows year-to-date, while Ether ETFs have drawn about $610 million in the same period. This suggests that while short-term sentiment may be driving current withdrawals, longer-term investor interest remains.
The price action of the underlying assets has also reflected recent market movements. Ether (ETH) fell 5% over the past seven days, settling around $2,433, according to CoinGecko data. Bitcoin experienced a smaller dip of 1.3% over the same period, trading at $82,783 at the time of publication, also according to CoinGecko data.
Outflows were not limited to Bitcoin and Ether ETFs. Other cryptocurrency ETFs also saw withdrawals last week. Solana (SOL) ETFs recorded around $26 million in net withdrawals, followed by Zcash (ZEC) ETFs with $19 million, and Hyperliquid (HYPE) ETFs with $18 million, according to SoSoValue data. XRP funds experienced outflows of $1.8 million, and BNB funds saw outflows of $285,000.
The sustained outflows from these major crypto ETFs, particularly the significant figures in October for Ether, warrant attention as market participants assess investor sentiment and potential shifts in capital allocation within the digital asset space.
Why This Matters
The materials describe a narrow update: US spot Bitcoin and Ether ETFs saw substantial net outflows totaling $549 million last week. Sustained outflows from Bitcoin and Ether ETFs are occurring despite positive year-to-date net inflows.
Broader Context
Source materials place the factual news in this context: US spot Ether ETFs recorded around $955 million in October net outflows so far, while Bitcoin funds extended their weekly withdrawal streak to two weeks.
