On October 16, US spot Bitcoin ETFs recorded net outflows of $82.39 million, while Ethereum funds saw outflows of $69.68 million. For the first half of October, Bitcoin ETFs have seen total net outflows of approximately $535 million, contrasting with September, which saw net inflows of about $2.6 billion.
Trading volume for Bitcoin ETFs exceeded $7.5 billion during the week ending October 16, with net selling totaling roughly $145 million. Alternative data sources reported Bitcoin daily outflows as low as $10.6 million, noting that Fidelity's FBTC led the redemptions.
The total assets under management for Bitcoin ETFs are estimated between $105 billion and $106 billion, with collective holdings exceeding 1.27 million BTC. Since their US launch in January 2024, these funds have accumulated approximately $57 billion in net inflows.
Ethereum ETFs manage approximately $15 billion in total assets. Market analysts suggest that the simultaneous outflows from both Bitcoin and Ethereum products indicate a broader risk-off sentiment among investors rather than a specific trend for a single asset.
