US-listed crypto ETFs tied to Bitcoin and Ethereum recorded combined net outflows of $548.55 million during the week ending October 16, according to SoSoValue data. Ethereum products accounted for the larger share of the withdrawals, extending their streak of weekly outflows to three consecutive weeks. combined $549 million in redemptions marked another week of pressure on crypto fund products, with BlackRock's IBIT alone driving $165 million of Bitcoin ETF selling.

According to the SoSoValue figures, U.S. spot Bitcoin funds lost $228.58 million over the period, while Ethereum funds recorded $319.97 million in withdrawals. BlackRock's products contributed significantly to both totals. These spot products hold the underlying tokens directly and trade on US equity exchanges, giving brokerage-account investors a regulated route to exposure since the first US spot Bitcoin ETFs began trading in January 2024 and Ethereum equivalents followed in July 2024. Their weekly flow prints have since become a widely followed gauge of demand through this channel.

The withdrawals coincided with Bitcoin's struggle to sustain a recovery above $82,000. Traders monitored support near $81,500 as the cryptocurrency remained vulnerable to another test of $80,000.

Bitcoin ETFs Log $229 Million in Weekly Outflows as BlackRock's IBIT Leads Selling

Spot Bitcoin ETF products posted net outflows of $228.58 million for the week, with BlackRock's IBIT emerging as the biggest source of selling among crypto ETFs at $165 million in redemptions.

Daily flows moved in both directions. Monday opened the week with $65.40 million in outflows, and Tuesday delivered the strongest session with $175.62 million in inflows. Wednesday erased that gain as $261.46 million left the funds, Thursday added a thin $5.06 million, and Friday closed the week with another $82.39 million in outflows.

The latest loss follows a heavier prior week. Spot Bitcoin funds shed $681.10 million in the week ending October 9, bringing the two-week total to roughly $910 million and marking two consecutive weeks of net redemptions. The Bitcoin ETF group last recorded a positive week in early October, when $241.09 million flowed in.

Total net assets in the Bitcoin ETF group dropped to $104.29 billion, down from $110.77 billion on October 5. Cumulative net inflows since launch slipped to $56.88 billion. Weekly trading volume held at $10.11 billion, meaning money is still moving through the funds, but more is heading out than coming in.

Ethereum ETFs See $320 Million in Outflows for a Third Straight Week

Spot Ethereum ETFs recorded $319.97 million in net outflows, with money leaving the products on four of the five trading days. The only green session came on Tuesday, October 13, with $24.84 million in inflows. Every other day was negative, including a $129.51 million outflow on Wednesday.

The three-week picture is challenging for Ethereum-linked products. Outflows of $138.02 million, $542.07 million and $319.97 million add up to roughly $1 billion since late September. Total net assets for Ethereum ETFs fell to $14.95 billion, down from $17.78 billion in late September, while cumulative net inflows now stand at $12.94 billion. Ether funds have recorded inflows on just one of the last 12 trading sessions.

Can Bitcoin Hold Key Support Amid Persistent ETF Outflows?

Bitcoin is trading around $81,980 on the 1-hour chart. The price recovered from a recent low near $79,800 but is now pulling back from its latest local high, and the rebound has so far stalled below the $82,800 to $83,200 resistance band, leaving the short-term outlook neutral to slightly bearish.

Resistance sits at $82,800 to $83,200, and BTC needs to reclaim this zone to build a stronger recovery. Immediate support lies at $81,500 to $81,800, and holding it could help the price stabilize and attempt another push higher. Below that, the $80,000 to $80,500 zone acts as major support, followed by the recent low near $79,800.

ETF flows matter for price. When crypto ETFs keep posting outflows, a steady source of spot buying disappears, and the market must find demand elsewhere. In the bullish case outlined in the analysis, BTC holds $81,500 to $81,800 and climbs back above $82,800 to $83,200, which would open the path toward $83,500 to $84,000. In the bearish case, a loss of $81,500 accelerates selling and sends the price back to the $80,000 to $80,500 zone, with the $79,800 low then the level to defend. With both fund groups on multi-week outflow streaks, the next weekly flow report will show whether the redemptions extend, a third consecutive negative week for Bitcoin funds and a fourth for Ethereum, or whether demand through the products begins to stabilize.

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrencies and related investment products involve substantial volatility and potential capital losses. Investors should conduct independent research and consult a qualified financial adviser before making investment decisions.

Source: The Market Periodical