Wall Street is voting with its feet—and this time, the ballot box is ETFs.
Over the past two weeks, U.S. spot $BTC and $ETH ETFs have seen combined net outflows of about $1.56 billion. That headline figure is no exaggeration. Breaking it down: during the week of October 5–9, $BTC funds saw $681 million in outflows and $ETH funds $542 million, bringing total weekly outflows from crypto ETFs to $1.29 billion—one of the largest weekly totals of the year. On October 14, another $390 million flowed out in a single day; of the $130 million in outflows from $ETH funds, 85% came from BlackRock’s ETHA alone. $ETH ETF has been bleeding assets for nine consecutive trading days since September 29.
Why these two weeks in particular? The chain of events is clear: September CPI came in scorching hot, above expectations → the 10-year U.S. Treasury yield surged to 5.31% → markets began pricing in “three more rate hikes” → risk assets broadly deleveraged. ETFs are the easiest exit route for institutions, so money leaves through them first.
Two details are worth a closer look. First, $ETH has been hit harder than $BTC : $ETH funds have fallen for nine straight days, while $BTC has seen intermittent outflows. The cascade of leveraged liquidations after $2,400 gave way prompted institutions to cut the highest-beta positions first. Second, don’t look at just one side of the story: on October 13, $BTC ETF saw a single-day net inflow of $176 million. The cumulative net inflows into both types of funds are still positive and substantial, and ETFs for smaller tokens like XRP can still attract money against the trend from time to time. This isn’t a collapse in conviction; it’s position management.
Glassnode’s take is grounded: whether the rebound has real support depends on whether spot trading volume and ETF buying pick up again. At 20:30 Beijing time tonight, PPI, retail sales, and initial jobless claims are all due; then comes the FOMC meeting on October 27–28. Whether this streak of ETF outflows can break at that point is the most important signal to watch in the second half of the month.
#BitcoinAndEtherETFsShed$1.56BInTwoWeeks
#ETF #BTC
This is not investment advice. DYOR; trading involves risk.
Over the past two weeks, U.S. spot $BTC and $ETH ETFs have seen combined net outflows of about $1.56 billion. That headline figure is no exaggeration. Breaking it down: during the week of October 5–9, $BTC funds saw $681 million in outflows and $ETH funds $542 million, bringing total weekly outflows from crypto ETFs to $1.29 billion—one of the largest weekly totals of the year. On October 14, another $390 million flowed out in a single day; of the $130 million in outflows from $ETH funds, 85% came from BlackRock’s ETHA alone. $ETH ETF has been bleeding assets for nine consecutive trading days since September 29.
Why these two weeks in particular? The chain of events is clear: September CPI came in scorching hot, above expectations → the 10-year U.S. Treasury yield surged to 5.31% → markets began pricing in “three more rate hikes” → risk assets broadly deleveraged. ETFs are the easiest exit route for institutions, so money leaves through them first.
Two details are worth a closer look. First, $ETH has been hit harder than $BTC : $ETH funds have fallen for nine straight days, while $BTC has seen intermittent outflows. The cascade of leveraged liquidations after $2,400 gave way prompted institutions to cut the highest-beta positions first. Second, don’t look at just one side of the story: on October 13, $BTC ETF saw a single-day net inflow of $176 million. The cumulative net inflows into both types of funds are still positive and substantial, and ETFs for smaller tokens like XRP can still attract money against the trend from time to time. This isn’t a collapse in conviction; it’s position management.
Glassnode’s take is grounded: whether the rebound has real support depends on whether spot trading volume and ETF buying pick up again. At 20:30 Beijing time tonight, PPI, retail sales, and initial jobless claims are all due; then comes the FOMC meeting on October 27–28. Whether this streak of ETF outflows can break at that point is the most important signal to watch in the second half of the month.
#BitcoinAndEtherETFsShed$1.56BInTwoWeeks
#ETF #BTC
This is not investment advice. DYOR; trading involves risk.