U.S. spot Bitcoin ETFs shed $635.6 million on Thursday, marking their biggest single-day outflow of the month. The withdrawal wiped out nearly 60% of a three-day inflow streak worth approximately $1.07 billion, pushing October back into negative territory with net losses of about $176 million.
Ethereum ETFs lost $110.6 million on the same day, bringing their October outflows to roughly $1.18 billion. Solana ETFs shed $8.9 million, accumulating about $68 million in outflows for the month with only two days of inflows in October.
Prices Hold Steady Amid Selling
Despite the heavy outflows, cryptocurrency prices remained relatively stable. Bitcoin traded near $81,460, flat over 24 hours and down 0.4% on the week. Ethereum declined 0.2% to approximately $2,400, while Solana slipped 0.3% to roughly $104. The broader crypto market cap held at about $2.85 trillion, though trading volume fell 20% to $67.1 billion.
The selling coincided with weakness across broader markets, with oil climbing above $111 a barrel while artificial intelligence stocks declined, dragging the S&P 500 and global markets lower.
ETF Flows and Market Sentiment
Spot Bitcoin ETFs have accumulated $57.8 billion in net inflows since their January 2024 debut, with total net assets at $100.2 billion. Ethereum ETFs, which launched in July, have drawn $12.7 billion in inflows. Because issuers report flows daily and institutional money comprises a significant portion, ETF data has become a closely watched indicator of investor sentiment.
Traders on prediction markets have trimmed their bets on a near-term Bitcoin rally. The odds of Bitcoin reaching $87,500 before October ends now stand at 17%, down from 20% a day earlier. Traders assessed a 9% probability of Bitcoin reaching $90,000 and a 32% chance of it declining to $77,500.
