Bitcoin, Ether ETFs’ October outflows swell toward $1B
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Bitcoin and Ether ETFs have experienced nearly $1 billion in combined net outflows in October. On Thursday alone, Bitcoin ETFs lost $244 million, including $484.9 million on Wednesday, marking the largest daily outflow since late June. Ether ETFs have seen eight consecutive sessions of outflows, totaling about $641 million since September 29.
Why it matters
The article suggests these outflows coincide with a weakening Bitcoin price rally, implying reduced investor confidence or interest in ETF holdings. A sustained increase in ETF buying and spot trading volume would indicate more solid support for Bitcoin’s recent price movements, but this has not occurred.
Key context
Bitcoin ETF outflows reached their highest daily level since June 25. Ether ETF outflows have persisted for over a week, beginning September 29. Bitcoin’s price fell to $80,427 on Thursday and was at $82,506 at the time of writing, reflecting a weakening trend. The source notes that increased ETF buying could confirm the recent breakout.
Key numbers and entities
Bitcoin ETFs: $244.1 million net outflows Thursday; $484.9 million Wednesday; $407.4 million total in October. Ether ETFs: $72.5 million net outflows Thursday; $641.3 million over eight-session streak; $578.9 million total in October. Combined October net outflows: $986.3 million. Bitcoin price low on Thursday: $80,427; price at writing: $82,506. Data sources: Farside Investors, CoinGecko, and Glassnode.
What remains unclear
The source does not specify the underlying causes of the ETF outflows or whether they reflect long-term sentiment changes. It also does not provide detailed investor demographics or compare these trends to other crypto investment vehicles. The impact of broader market events on these outflows is not analyzed.