Spot bitcoin ETFs shed $1.2 billion in second-largest weekly outflows since debut
Quick Take U.S. bitcoin ETFs saw $1.23 billion flow out last week, marking their second-largest weekly outflow since launch. Bitcoin experienced significant volatility last week, plunging to a low of around $103,700 on Oct. 17. It has since recovered above $111,000.
U.S. bitcoin exchange-traded funds recorded a weekly net outflow of $1.23 billion last week, marking their second-largest outflow on record.
According to SoSoValue data , spot bitcoin ETFs saw $366.6 million in net outflows on Friday alone, bringing the week's total net outflows to $1.23 billion — a sharp reversal from the previous week's net inflow of $2.7 billion.
Last week represents the second-largest weekly net outflow since the bitcoin funds launched in 2024, exceeded only by the $2.6 billion in outflows during the week ending Feb. 28.
Significant outflows came as bitcoin experienced severe volatility last week, plunging from around $121,000 on Oct. 10 to a low of approximately $103,700 on Oct. 17, according to The Block's BTC price page . The world's largest cryptocurrency has since climbed back, up 4.2% in the past 24 hours to $111,268 as of 2:45 a.m. ET Monday. Ether also jumped 5% to $4,082.
Meanwhile, spot Ethereum ETFs recorded a weekly net outflow of $311.8 million last week, compared to a net inflow of $488.3 million the previous week.
Analysts told The Block on Monday that traders now anticipate a potential interest rate cut later this month and an early end to quantitative tightening.
"Chair Jerome Powell acknowledged that while growth remains firmer than expected, labor market softness persists," said Rachael Lucas, crypto analyst of BTC Markets. "This shift has eased bond yields and improved the liquidity environment for risk assets, including digital assets."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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