U.S. crypto exchange-traded funds (ETFs) saw a significant shift in investor sentiment during the week through October 9, with bitcoin and ether funds recording combined outflows exceeding $1.2 billion as institutional demand reversed sharply.
Bitcoin ETFs Post Largest Weekly Withdrawal
Bitcoin ETFs recorded $681 million in net outflows, ending a three-week inflow streak. The selling was concentrated mid-week, with Wednesday delivering the largest single-day withdrawal at $487.07 million, followed by another $244.13 million on Thursday. Fidelity's FBTC suffered the heaviest redemptions at approximately $380.3 million for the week, while Ark & 21Shares' ARKB lost $207.2 million. Grayscale's GBTC shed $47.5 million, though Blackrock's IBIT managed a modest $1 million inflow.
The outflows coincided with broader market pressures, including oil climbing back above $100 a barrel and Treasury yields rising as inflation concerns resurfaced. Bitcoin's price briefly fell below $81,000 before recovering above $82,000.
Ether Faces Persistent Selling Pressure
Ether ETFs experienced more severe outflows, losing $542 million across five negative sessions and extending their losing streak to nine consecutive trading days. Since September 29, cumulative ether outflows have reached approximately $697 million. Blackrock's ETHA accounted for roughly $477 million of last week's redemptions, representing close to 88% of the category total.
The sustained selling in ether stands in contrast to occasional bitcoin buying during the same period, revealing a clear divergence within the crypto ETF market.
Solana Streak Breaks After 14 Weeks
Solana ETFs recorded their first negative week after 14 consecutive weeks of inflows, with $24.81 million in net outflows. Bitwise's BSOL accounted for approximately $20.9 million of the withdrawals. Solana ETF assets fell to $1.73 billion by Friday, signaling that tightening financial conditions are now affecting areas of the market that had previously remained resilient.
Smaller Assets Show Mixed Results
Not all digital assets experienced outflows. XRP ETFs attracted $11.31 million for the week, while NEAR ETFs added $13.05 million, continuing a resilient start for the newly launched category. Zcash ETFs moved in the opposite direction, losing $30.72 million, and HYPE ETFs recorded $9.43 million in outflows.
The week marked a regime change in crypto ETF flows, with bitcoin, ether, and solana all facing meaningful redemptions simultaneously as higher yields and inflation concerns tightened financial conditions across markets.
