Spot Bitcoin and Ethereum ETFs recorded net outflows of $82.39M and $69.68M respectively on October 16, with BlackRock products leading the selling.
Macro & Markets ·
On October 16, spot Bitcoin and Ethereum ETFs experienced net outflows totaling $82.39 million and $69.68 million respectively, with BlackRock products accounting for the bulk of the selling pressure. BlackRock's IBIT Bitcoin ETF led Bitcoin outflows at $71.78 million, while its ETHA Ethereum product was responsible for all $69.68 million in Ethereum ETF outflows on the day.
The Ethereum outflow marked a third consecutive day of net redemptions from spot Ethereum ETFs, signaling sustained investor withdrawal from the product category. Bitcoin spot ETFs also saw outflows, though concentrated in a single issuer's product rather than distributed across multiple providers.
It remains unclear what drove the synchronized selling pressure across both Bitcoin and Ethereum ETFs on this date, or whether the outflows reflect broader market sentiment or specific portfolio rebalancing by certain investor groups. Data source.