Spot Bitcoin ETFs saw net outflows last week, though market sentiment remains bullish on BTC entering a cyclical bull phase.
Macro & Markets ·
U.S. spot Bitcoin ETFs recorded net outflows of $386.3 million across the first seven trading days of October, including a single-day exit of $484.9 million on Wednesday—the largest daily withdrawal since June. Ethereum funds extended losses to nine consecutive trading days, shedding $635 million in October alone and nearly $700 million over the entire streak. Solana ETFs also entered negative territory for the month, down $24.8 million after five days of consecutive outflows.
The downturn reflects broader market weakness affecting crypto asset exposure vehicles. Bitcoin ETFs did receive $21.1 million in inflows on Friday and $118.8 million on October 6, but these inflows could not reverse the month's downward trajectory. The streak marks a sharp reversal from September, when Bitcoin ETFs had recorded roughly $3 billion in inflows across nine sessions following the failed Senate cloture vote on the Clarity Act.
Cumulative positions remain substantially positive despite October's reversals: Bitcoin ETF cumulative net inflows total $57.6 billion with $100.6 billion in total net assets, while Ethereum ETFs hold $14.5 billion in assets despite the nine-day outflow streak. Whether the outflows signal a broader shift in investor positioning or represent tactical pullbacks ahead of potential reinflows remains unclear.