Both Bitcoin and Ethereum exchange-traded funds posted significant losses last week as their underlying assets declined sharply.
Bitcoin fell from over $84,000 to just under $80,000, its lowest level in a month. Spot Bitcoin ETFs recorded net outflows of $228.58 million for the week, down from the previous week's performance. Daily flows were mixed: the funds lost $65.40 million on Monday, gained $175.62 million on Tuesday, lost $261.46 million on Wednesday, gained $5.06 million on Thursday, and saw $82.39 million withdrawn on Friday.
The cumulative net inflows into spot Bitcoin ETFs declined from $57.8 billion on October 2 to $56.88 billion on October 16. This reversal followed a stronger period at the end of September, when investors poured $2.4 billion into the funds over five trading days.
Ethereum ETFs fared worse, with net outflows of roughly $320 million for the week. The funds have seen only one green day since September 28, occurring on October 13 when $24.84 million flowed in. The remaining trading days saw consistent outflows: $85.40 million Monday, $129.51 million Wednesday, $60.22 million Thursday, and $69.68 million Friday.
This marked the third consecutive week of losses for Ethereum ETFs, which lost approximately $1 billion during the three-week period. Ethereum's price declined to $2,300, its lowest level since an August rally.
