TL;DR
- ETF Withdrawals: Bitcoin ETFs recorded $244.1 million in net outflows on Thursday after $484.9 million in withdrawals on Wednesday, which was the largest daily outflow since June 25.
- Ether Weakness: Ethereum ETFs lost another $72.5 million and extended their negative streak to eight consecutive trading sessions, with roughly $641.3 million leaving the funds since Sept. 29.
- Demand Watch: Combined October outflows across Bitcoin and Ether ETFs reached $986.3 million. Glassnode said stronger spot trading volume and ETF buying would be needed to confirm lasting support.
Bitcoin and Ethereum ETFs continued to face heavy selling pressure in October, with combined net outflows approaching the $1 billion mark. Data from Farside Investors shows that Bitcoin ETFs posted $244.1 million in net outflows on Thursday, following even larger withdrawals of $484.9 million on Wednesday, the biggest daily outflow recorded since June 25. Ethereum funds also remained under pressure, adding another day of losses as investors pulled capital from the sector.
The weakness in fund flows arrived alongside a softer market environment. Bitcoin’s recent rally lost momentum during the week, with the asset falling to as low as $80,400 on Thursday before changing hands near $82,500 at the time of writing. The pullback has raised questions about the strength of recent market gains and whether institutional demand remains strong enough to support higher prices.
Fund Outflows Extend Across Crypto ETFs
Bitcoin ETFs saw another difficult session as investors continued to reduce exposure. According to the latest figures, only the Franklin Bitcoin ETF (EZBC) reported a net inflow during the October 8 trading session. The broader group, however, ended the day with total net outflows of $244 million. Ethereum ETFs also remained in negative territory, recording $72.544 million in net outflows. That marked the eighth consecutive trading session of withdrawals for the products. The ongoing streak began on Sept. 29 and has resulted in roughly $641.3 million leaving Ether funds over that period.
Monthly Withdrawals Near $1 Billion
October net outflows for Bitcoin ETFs have now reached $407.4 million, highlighting the scale of investor withdrawals this month. Combined with losses seen in Ether products, the total amount removed from both ETF categories climbed significantly. Ethereum ETFs have recorded $578.9 million in net outflows during October. When added together, Bitcoin products and Ether products have experienced $986.3 million in combined net outflows so far this month, bringing the total close to the $1 billion threshold.
Market Watches for Signs of Renewed Demand
Market participants are closely monitoring trading activity for clues about investor sentiment. Glassnode said a pickup in spot trading volume and ETF buying would help confirm that Bitcoin’s recent breakout had genuine support behind it. For now, however, fund flows continue to point in the opposite direction. Until Bitcoin sees stronger buying activity from both ETF investors and spot market participants, traders are likely to remain focused on whether demand can recover after a difficult start to October.
