PiCK
US Spot-Bitcoin ETFs See $681 Million Outflow Last Week, Ending Three-Week Inflow Streak
Summary
- US spot-Bitcoin ETFs saw $681 million in net outflows last week, ending a three-week streak of net inflows.
- Over the same period, US spot-Ether ETFs also lost $542 million, bringing combined net outflows to $1.223 billion with Bitcoin products.
- US digital-asset investment products saw large outflows at the same time, though this data alone is not enough to conclude that institutional investors' medium- to long-term investment stance has changed.
Forecast Trend Report by Period
US spot-Bitcoin exchange-traded funds posted net outflows of $681 million last week, ending a three-week streak of inflows.
WuBlockchain said on October 12 that US spot-Bitcoin ETFs recorded total net outflows of $681 million during the week of October 5-9.
Spot-Bitcoin ETFs had posted net inflows for three straight weeks before reversing into outflows last week. The recent influx of institutional money into the products appears to have paused for now.
Over the same period, US spot-Ether ETFs also saw $542 million in outflows. Combined net outflows from spot-Bitcoin and spot-Ether ETFs totaled $1.223 billion.
Among Ether ETFs, BlackRock's ETHA saw the largest outflows. ETHA posted weekly net outflows of $477 million, accounting for about 88% of total net outflows from spot-Ether ETFs.
Heavy withdrawals from both spot-Bitcoin and spot-Ether ETFs at the same time point to a change in fund flows for US digital-asset investment products. Still, this data alone is not enough to conclude that institutional investors have changed their medium- to long-term investment stance.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.