US spot Bitcoin and Ether exchange-traded funds have faced significant capital withdrawals in October. Combined net outflows for these investment products have reached $986.3 million during the current month.
Bitcoin ETFs reported net outflows of $244.1 million on Thursday, following a withdrawal of $484.9 million on Wednesday. This Wednesday figure represents the largest daily outflow for Bitcoin funds since June 25.
Ether ETFs have experienced eight consecutive sessions of net outflows, losing a total of $641.3 million since the streak began on September 29. On Thursday alone, these funds recorded $72.5 million in net outflows.
The total net outflows for October currently stand at $407.4 million for Bitcoin ETFs and $578.9 million for Ether ETFs. These movements occur alongside a decline in Bitcoin price, which dropped to $80,427 on Thursday.
