US spot crypto ETFs faced a challenging week, capped by substantial outflows across both Bitcoin and Ethereum products. Last week, Bitcoin spot ETFs posted $203 million in net outflows, while Ethereum spot ETFs lost $432 million.
The weekly decline added to a difficult month for crypto exchange-traded funds. For Bitcoin ETFs, total October outflows approached $516 million, spread across a month of uneven trading rather than a single dramatic selloff. Bitcoin's daily flows remained mixed, with capital moving in and out on different days.
Ethereum experienced a significantly worse month. Ether ETFs recorded more than $1.6 billion in outflows for October, contributing to a combined monthly total of over $1 billion in outflows across both asset classes. Notably, Ethereum ETFs logged up to 23 consecutive days of outflows during the month, marking the longest continuous negative streak for the products.
Since launching in January 2024, US spot Bitcoin ETFs have accumulated about $57 billion in net inflows, with total assets sitting at approximately $98 to $99 billion. Meanwhile, Ethereum ETFs, which debuted in July 2024, have collected between $12 and $14 billion in cumulative inflows since their launch.
Major traditional asset management firms, including BlackRock and Fidelity, operate some of the largest products in the category and frequently drive the direction of daily flows. Spot ETFs hold the underlying assets on behalf of shareholders, meaning net redemptions reduce the funds' overall holdings.
