NewsCryptoUS Spot Bitcoin ETFs Snap Two-Week Losing St Despite Late-Week Slide

US Spot Bitcoin ETFs Snap Two-Week Losing St Despite Late-Week Slide

Author: Decrypt·

Key Takeaways

  • •U.S. spot Bitcoin ETFs posted roughly $301 million in weekly net inflows, ending a two-week losing streak even though Friday brought a $137.9 million outflow.
  • •October flows for Bitcoin ETFs remain negative, down about $314 million for the month after Thursday's $635.6 million withdrawal, the largest single-day exit of October.
  • •Ethereum ETFs lost approximately $221 million over the week and are down roughly $1.18 billion in October, while Solana ETFs sit about $68 million lower for the month.
  • •Bitcoin fell about 1.1% to near $80,490 over 24 hours into Saturday, and the total crypto market capitalization slipped 1.2% to $2.79 trillion.
  • •Traders on the Myriad prediction market raised the odds of Bitcoin dropping to $77,500 before month-end to 43%, up from 32% a day earlier.
US Spot Bitcoin ETFs Snap Two-Week Losing St Despite Late-Week Slide

U.S. spot Bitcoin exchange-traded funds closed a choppy week in the green — but only just. The funds shed $137.9 million on Friday, their second straight day of net outflows, yet still finished the week up roughly $301 million, snapping a two-week losing streak despite the late-week slide. The mixed result capped an uneven stretch that alternated between strong early-week creations and heavy end-of-week redemptions.

The Friday exit extended a two-day slide totaling about $773.5 million, eating into a $1.07 billion inflow run built between Monday and Wednesday, according to Decrypt's ETF tracker. The tracker aggregates daily flow disclosures from the funds' issuers.

October, though typically a seasonally good month for Bitcoin holders, remains in the red. The funds briefly turned positive for the month midweek, but Thursday's $635.6 million exit — the biggest single-day withdrawal of October — flipped them back into negative territory. They are now down about $314 million for the month, a tally the remaining sessions will decide. Cumulative net inflows stand at $57.6 billion, with $100.2 billion in total net assets.

Ethereum ETFs eked out a $4.4 million inflow on Friday but lost about $221 million on the week, leaving them down roughly $1.18 billion for October. Solana ETFs saw no net flows on Friday after shedding $8.9 million on Thursday, and they are down about $68 million this month.

Spot crypto ETFs hold the underlying asset, such as Bitcoin or Ethereum, and trade on stock exchanges like ordinary shares, giving investors exposure through a regular brokerage account. Incoming money shows up as creations of new fund shares, while exits register as redemptions, and it is the net daily difference between the two that issuers report. Bitcoin funds have drawn $57.6 billion in net inflows since debuting in January 2024, while Ethereum funds have taken in $12.7 billion since launching that July. Solana funds arrived late last year. Because those disclosures land every trading day and much of the money comes from institutions and financial advisers, the figures have become a closely watched gauge of investor sentiment, and the products have grown into one of the main conduits for institutional exposure to digital assets.

Prices slid into the weekend. Bitcoin fell 1.1% over 24 hours to about $80,490 on Saturday and is down 1.2% on the week, according to CoinGecko. Ethereum dropped 2.6% to roughly $2,344, Solana fell 2.8% to about $101, and the total crypto market capitalization slipped 1.2% to $2.79 trillion. The weakness followed a midweek selloff in global markets, when oil climbed above $111 a barrel AI stocks slid. The price declines stood apart from the ETFs' positive weekly tally, a reminder that fund flows and spot prices do not always move in lockstep.

Traders on Myriad, a prediction market developed by Decrypt's parent company Dastan, have grown more bearish on Bitcoin's October finish. They now give Bitcoin a 43% chance of dropping to $77,500 before the month ends, up from 32% a day earlier, and an 18% chance of falling to $75,000. The odds of Bitcoin topping $87,500 have fallen to 10% from 17%.

Solana bulls barely edge out bears, with 51.6% odds of reaching $160 before $40, down from 54.9%. Ethereum's odds of hitting $3,000 before $1,500 held at 61.3%.

The week opened on a brighter note after J.P. Morgan Asset Management projected 10% annual returns for Bitcoin over the next decade, but the asset has since settled into what analysts have described as a “wait-and-see” mode.