US Spot Bitcoin and Ether ETFs Approach $1 Billion in Monthly Net Outflows
Outflows from US spot Bitcoin and Ether funds have neared $1 billion in October amid a weakening market rally.
US spot Bitcoin and Ether exchange-traded funds have registered $986.3 million in combined net outflows during October, according to data from Farside Investors. Total monthly redemptions stand at $407.4 million for spot Bitcoin funds and $578.9 million for spot Ether products.
Spot Bitcoin ETFs shed $244.1 million on Thursday, following a $484.9 million withdrawal on Wednesday, which marked the largest single-day outflow since June 25. Concurrently, spot Ether ETFs recorded $72.5 million in net redemptions, marking an eight-day streak of consecutive outflows totaling roughly $641.3 million since September 29.
The sustained withdrawals occurred alongside price pressure on Bitcoin, which touched an intraday low of $80,427 before rebounding to $82,506. Analytics firm Glassnode noted that sustained rebounds would require a measurable pickup in spot trading volumes and ETF inflows.
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