U.S. spot Bitcoin ETFs recorded a net outflow of $228.6 million for the week ending Friday, following a $681.1 million drain in the previous week. Over this two-week period, total outflows reached approximately $910 million. Friday alone saw a reduction of $82.4 million in assets.
Market volatility intensified mid-week. Tuesday saw an inflow of $175.7 million, which was offset by $261.4 million in redemptions on Wednesday. Thursday added a minor $5.1 million inflow before selling pressure returned. These outflows have pushed the cumulative October performance into negative territory, with a net loss of about $615 million for the month.
Macroeconomic factors, including September inflation data exceeding forecasts, influenced market sentiment and revived expectations for Federal Reserve interest rate hikes. Bitcoin prices briefly dipped below $80,000 on Thursday, leading to nearly $950 million in liquidated leveraged crypto positions, 90% of which were long positions.
Since their launch in January 2024, spot Bitcoin ETFs have accumulated $57.3 billion in net inflows. Current total net assets for these funds are estimated between $100.2 billion and $104.29 billion. Bitcoin closed Friday at approximately $81,590, compared to $82,337 the previous week.
