On October 6, US spot Bitcoin ETFs pulled in $118.8M while US spot Ethereum ETFs lost $201.9M. That is the sixth straight session of outflows for ETH funds, and the money doesn't seem to be leaving crypto. It looks like it's moving from $ETH to $BTC.
📊 The numbers
• Bitcoin ETFs: +$118.8M net inflow on Oct 6
• Ethereum ETFs: -$201.9M net outflow, 6 sessions in a row
• BlackRock's ETHA alone saw about $202M of redemptions, slightly more than the whole sector, because other ETH products took small inflows
• Before Oct 6, the streak since Sept 29 had already drained $205.88M, cutting cumulative ETH ETF inflows to about $13.75B
• Solana ETFs aren't spared either: -$3.7M on Oct 6, about -$25.2M over five sessions
📉 Why it matters for price
When an ETF redeems shares, it sells the underlying ETH, and that supply has to be absorbed on spot markets. On Binance, ETH trades near $2,617 this morning (-3.2% in 24h), weaker than BTC near $84,220 (-1.7%).
Derivatives echo it too. CryptoQuant data cited by Digital Today shows Binance ETH cumulative net taker volume swung from +$1.94B on Aug 21 to -$1.36B on Oct 5, the lowest level since early August. Market sellers are in control.
🔄 Rotation, not exit
The key detail is that BTC funds took in money on the same day. Institutions appear to be cutting ETH exposure and leaning into Bitcoin while macro stays tight. Even BlackRock's staking-enabled ETH product (ETHB) has seen outflows, so a yield add-on alone hasn't kept capital in place.
👀 What to watch
1. Does the ETH outflow streak break this week? A single inflow day would be the first sign of exhaustion.
2. The ETH/BTC ratio (around 0.031 right now). Further weakness confirms the rotation.
3. Fed minutes tonight at 2 PM ET (21:00 Moscow) could reset risk appetite for both.
My take: six days of outflows plus heavy taker selling is a warning, but crowded bearish positioning can also fuel sharp squeezes. Manage risk and don't chase.
Are you rotating into BTC, or buying the ETH dip? Tell me in the comments 👇
Not financial advice. Sources: TokenPost, Crypto Briefing, Digital Today/CryptoQuant, Binance spot prices.