US spot Bitcoin ETFs experienced $82.39 million in net outflows on October 16, with Ethereum ETFs losing $69.68 million the same day. Combined, the two product groups saw approximately $152 million leave in a single trading session.
Bitcoin ETFs have accumulated roughly $535 million in net outflows through mid-October, reversing the trend from September when the funds attracted about $2.6 billion in fresh capital. Bitcoin ETF trading volume topped $7.5 billion in the week ending October 16, with net selling for that week totaling only about $145 million.
Data sources reported varying daily outflow figures for Bitcoin ETFs, with alternative tallies putting the day's outflow as low as $10.6 million, led by redemptions in Fidelity's FBTC. Such reporting differences between data providers are common as ETF flows settle and compile on different schedules.
Asset Base Remains Substantial
Despite recent selling pressure, the Bitcoin ETF complex holds approximately $105 to $106 billion in total assets, with the funds collectively holding more than 1.27 million BTC. BlackRock's iShares Bitcoin Trust (IBIT) is the largest Bitcoin ETF by assets, followed by Fidelity's FBTC and Grayscale's GBTC.
Ethereum ETFs hold approximately $15 billion in total assets, making the daily $69.68 million outflow proportionally more significant than Bitcoin's outflow relative to the asset base.
Context Since Launch
Spot Bitcoin ETFs launched in the United States in January 2024. Since inception, cumulative net inflows have totaled roughly $57 billion. October's approximately $535 million in outflows represents less than 1% of total inflows since the products began trading.
Market Sentiment
The simultaneous outflows from both Bitcoin and Ethereum funds suggest a broader risk-off posture rather than a view specific to either asset. With weekly trading volume of more than $7.5 billion against net selling of approximately $145 million, market engagement remains active despite the cautious sentiment.
