🌎 Bitcoin and Ethereum ETFs See Major Outflows Amid Market Slowdown

Spot Bitcoin ETFs in the U.S. broke their two-day inflow streak on Oct 8, registering a day of negative flows, while spot Ether ETFs followed suit, logging outflows after a day of stagnation.

Bitcoin ETF Outflows Signal Market Sentiment Shift

According to recent data, the 12 spot Bitcoin ETFs saw net outflows totaling $18.66 million, indicating a potential shift in investor sentiment amid a broader market slowdown. This decline follows a period where these funds collectively attracted $260.78 million in inflows over the previous two days.

Fidelity’s FBTC and Grayscale’s GBTC Lead Outflows

Fidelity’s Bitcoin ETF experienced significant outflows, with $48.82 million exiting the fund on Oct. 8. This marked a stark contrast from the previous trading day when FBTC posted the highest inflows among all spot Bitcoin ETFs, gaining $103.7 million.

Grayscale’s Bitcoin Trust also contributed to the negative trend. After a day of no recorded activity, GBTC saw $9.41 million in outflows, continuing its challenging streak. Since its launch, GBTC has experienced $20.15 billion in cumulative outflows, significantly impacting the sector’s overall momentum.

Despite the widespread outflows, BlackRock’s IBIT, the largest Bitcoin ETF by assets under management, recorded positive flows on the day, attracting $39.57 million in inflows and partially offsetting the overall negative trend.

The remaining nine spot Bitcoin ETFs remained neutral, with no recorded inflows or outflows on Oct. 8. However, total trading volume across all Bitcoin ETFs surged to $1.35 billion, a sharp increase from the previous day’s activity. Cumulatively, U.S. spot Bitcoin ETFs have drawn in a net total of $18.72 billion since their inception.

At the time of reporting, Bitcoin was trading sideways, hovering at $62,230—a price level that may have contributed to the hesitation among investors to further engage with these funds.

Spot Ethereum ETFs Follow Bitcoin’s Downtrend

Spot Ethereum ETFs mirrored Bitcoin’s performance, with outflows recorded across the market. The nine spot Ether ETFs saw net outflows of $8.19 million on Oct. 8, following a day of neutral activity.

Fidelity’s FETH and Bitwise’s ETHW were the most affected, with $3.65 million and $4.54 million in outflows, respectively. The remaining seven Ethereum ETFs reported no significant activity, maintaining zero flows.

In addition to the outflows, trading volume for Ethereum ETFs dropped significantly, falling to $102.37 million from $118.43 million the previous day. The spot Ether ETFs have experienced a cumulative total net outflow of $561.85 million since their introduction, reflecting persistent investor caution in the Ether market.

At the time of publication, Ethereum was trading at $2,434.