Bitcoin and Ethereum spot ETFs both saw significant outflows last week as underlying assets declined, with Bitcoin below $80k and Ethereum near $2,300.
Macro & Markets ·
Spot Bitcoin ETFs shed over $680 million in net outflows last week as the underlying asset declined sharply from above $84,000 to below $80,000 for the first time in a month. Meanwhile, Ethereum ETFs experienced approximately $320 million in net outflows, marking their third consecutive week of losses. Ethereum's price approached $2,300 during the period.
The divergence in outflow magnitudes reflected differing investor sentiment across the two asset classes. Bitcoin ETFs' cumulative net inflows fell from $57.8 billion to $56.88 billion over the week, while Ethereum ETF investors withdrew capital despite a single green day on October 13 when $24.84 million flowed in. The broader three-week decline for Ethereum ETFs totaled approximately $1 billion in net outflows.
Both products tracked correlated price action in their underlying assets, with Bitcoin's rejection above $87,000 followed by a move toward the $80,000 floor, and Ethereum testing its post-August lows. The extent to which the recent momentum reversal represents a sustained shift in institutional positioning or a temporary correction remains unclear.