Spot Ethereum exchange-traded funds outpaced spot Bitcoin ETFs in net redemptions last week, shedding roughly $320 million compared to Bitcoin's $228.58 million in weekly outflows as asset prices dipped toward monthly support levels.
Spot Bitcoin ETFs Lose $228.58M Across Volatile Week
The price of Bitcoin slumped from over $84,000 to a monthly low under $80,000 last week, extending downside momentum following a prior rejection at $87,000. This market weakness mirrored negative flows across US spot Bitcoin ETFs, which recorded a net loss of $228.58 million according to data from SoSoValue.
While milder than the previous week's net redemptions exceeding $680 million, daily flows remained volatile. The week opened on Monday with $65.40 million in net outflows, before Tuesday posted a brief recovery with $175.62 million in net inflows. Outflows resumed on Wednesday at $261.46 million, followed by a minor positive inflow of $5.06 million on Thursday and a $82.39 million drawdown on Friday. Consequently, total net cumulative inflows for spot Bitcoin ETFs fell from nearly $57.8 billion on October 2 to $56.88 billion by October 16, even as Bitcoin struggled near key price levels.
Ethereum Funds Record $320M Bleed in Third Red Week
Spot Ethereum ETFs experienced even heavier selling pressure, recording approximately $320 million in net outflows over the same five-day trading session. The funds have logged only a single day of positive net flows since September 28, which occurred on October 13 when institutional investors added $24.84 million.
The remainder of the week saw sustained redemptions, starting with $85.40 million in outflows on Monday, followed by $129.51 million on Wednesday, $60.22 million on Thursday, and $69.68 million on Friday. This marks the third consecutive week of net negative flows for Ethereum products, bringing cumulative losses over the three-week span to $1 billion. The heavy ETF selling coincided with spot ETH prices falling toward $2,300, reaching levels not seen since its August breakout, despite long-term market observers noting that Ethereum remains structurally significant.
Key Takeaways
- ETH ETF Losses: Spot Ethereum ETFs logged $320 million in weekly outflows, making it the third straight week of net redemptions totaling $1 billion.
- BTC ETF Drawdown: Spot Bitcoin ETFs lost $228.58 million for the week, pushing total cumulative inflows down to $56.88 billion as Bitcoin tested support near $80,000.
- Single Green Day: Ethereum funds saw just one positive day on October 13 (+$24.84 million), while Bitcoin funds managed two minor green days on Tuesday and Thursday.
Why It Matters
The diverging magnitude of outflows highlights persistent institutional apathy toward Ethereum products relative to Bitcoin during macro pullbacks. While Bitcoin ETF redemptions appear to be routine profit-taking after hitting resistance near $87,000, Ethereum's continuous $1 billion three-week exit suggests deeper institutional risk aversion toward altcoin investment vehicles. Market participants should monitor whether ETH can maintain structural support near $2,300, as continued ETF redemptions risk further dampening liquidity across broader decentralised finance ecosystems.
