ETF outflows totaled $643.2 million last Friday; $BTC institutions are pulling back
「The first real test of how ETF investors would react to the largest crypto hack in history came back red.」That was how Decrypt began its weekend report. Put simply: institutions’ first reaction was to pull out.
On the first full U.S. trading day after the theft, U.S. spot Bitcoin ETFs saw net outflows of $643.2 million last Friday—the largest single-day outflow in October. The $441 million that had flowed in over four consecutive days was wiped out in one fell swoop. Net outflows for the week totaled $202 million, and the figure for October as a whole was about $516 million.
Ethereum ETFs were weaker still: outflows of $155.7 million in a single day, marking a fifth consecutive day of outflows.
Institutions didn’t buy the dip; they pulled out first. The data points to a short-term bearish outlook for $BTC , as well as for the broader market. The counterpoint: this view would be invalidated if daily inflows turn positive this week or outflows continue to narrow.
「The first real test of how ETF investors would react to the largest crypto hack in history came back red.」That was how Decrypt began its weekend report. Put simply: institutions’ first reaction was to pull out.
On the first full U.S. trading day after the theft, U.S. spot Bitcoin ETFs saw net outflows of $643.2 million last Friday—the largest single-day outflow in October. The $441 million that had flowed in over four consecutive days was wiped out in one fell swoop. Net outflows for the week totaled $202 million, and the figure for October as a whole was about $516 million.
Ethereum ETFs were weaker still: outflows of $155.7 million in a single day, marking a fifth consecutive day of outflows.
Institutions didn’t buy the dip; they pulled out first. The data points to a short-term bearish outlook for $BTC , as well as for the broader market. The counterpoint: this view would be invalidated if daily inflows turn positive this week or outflows continue to narrow.