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Bitcoin and Ethereum ETF outflows hit multi-month highs on Oct. 7
SoSoValue data show $484.9 million left 12 US spot Bitcoin ETFs in a single day, while Ethereum ETFs pulled $160.9 million, extending seven straight sessions of net outflows across the funds.
US spot Bitcoin and Ethereum exchange-traded funds logged their steepest withdrawals in months as prices in the broader crypto market continued to fall, according to data compiled by SoSoValue and covered by CryptoSlate.
On Oct. 7, the 12 listed US Bitcoin ETFs lost $484.9 million, the biggest single-day outflow since June 25. BlackRock’s iShares Bitcoin Trust (IBIT) led redemptions with $207.7 million, followed by Fidelity’s FBTC at $105.1 million and ARK 21Shares’ ARKB at $101.7 million.
Ethereum ETFs recorded $160.9 million in withdrawals, lifting their five-session losses to $506.3 million, the largest since January. BlackRock’s ETHA accounted for $116.1 million of Wednesday’s redemptions, while Grayscale’s ETHE lost $25.8 million, and Bitcoin and Ethereum funds have each seen extended stretches of outflows.
CryptoSlate also linked the selloff timing to macro and risk-asset pressures, noting that the outflows coincided with rising US Treasury yields, a stronger dollar, and elevated oil prices. On Wednesday, the two ETF categories together lost about $646 million as Bitcoin fell to its lowest daily close in the last 20 days, below $83,000, and Ethereum moved toward $2,500 during the reporting period.
Latest closeBitcoin $81,704.47 ▼1.9%|Ethereum $2,471.37 ▼4.0%