Spot exchange-traded funds tracking bitcoin recorded their worst week for outflows since the end of June, contributing to a major price correction for the underlying asset.
The business week for bitcoin ETFs began with nearly $90 million in net outflows on a day when Bitcoin's price was rejected at $87,000 and dropped by more than $2,000. Although flows turned positive on Tuesday with $118.86 million in inflows, the trend worsened on Wednesday and Thursday as net outflows surged to $487.07 million and $244.13 million, respectively. Bitcoin's price tumbled during those sessions, reaching a two-week low of $80,400 on Thursday.
While inflows returned on Friday, they were a modest $21.13 million, failing to offset the losses from earlier in the week. Consequently, the week concluded with $681.10 million in net outflows—the highest since the final full week of June, when investors withdrew $1.79 billion. This shift brought the cumulative total net inflows down from $57.79 billion to $57.11 billion.
Ethereum ETFs Extend Red Streak
Spot Ethereum exchange-traded funds experienced a prolonged slump, failing to record a single green day and extending a losing streak that began on September 28.
Ethereum funds started the week with $50.76 million in net outflows on Monday, followed by accelerated withdrawals of $201.89 million on Tuesday and $160.77 million on Wednesday. The negative momentum persisted through the end of the week, with an additional $72.54 million withdrawn on Thursday and $56.10 million on Friday.
These five consecutive days of outflows built upon four previous days of losses, pushing cumulative net totals down from $13.95 billion to $13.26 billion. The underlying asset, which had previously been halted near $2,800 and held above $2,700, dropped to $2,400 during the mid-week market crash before recovering to trade above $2,500.
