US spot Bitcoin and Ether exchange-traded funds have recorded combined net outflows of $986.3 million so far in October, according to data from Farside Investors. Bitcoin ETFs accounted for $407.4 million of that total, while Ether ETFs saw a larger $578.9 million leave the products. On Thursday alone, Bitcoin ETFs posted $244.1 million in net outflows after losing $484.9 million the previous day, which marked the biggest single-day outflow since June 25. Ether ETFs lost another $72.5 million on Thursday, extending their streak of net outflows to eight trading days. Over the current run, which began on Sept. 29, cumulative net outflows from Ether ETFs have reached about $641.3 million. The withdrawals came as Bitcoin’s recent rally lost momentum. CoinGecko data showed BTC fell as low as $80,427 on Thursday before recovering to $82,506.
US spot Bitcoin and Ether exchange-traded funds have seen combined net outflows of $986.3 million so far in October, according to Farside Investors data cited by BlockBeats on Oct. 9.
October outflows approach $1 billion
Bitcoin ETFs recorded net outflows of $407.4 million during the period, while Ether ETFs posted net outflows of $578.9 million.
On a daily basis, Bitcoin ETFs saw $244.1 million leave on Thursday, following $484.9 million in net outflows a day earlier. That was the largest single-day outflow since June 25.
Ether ETFs extend losing streak to eight trading days
Ether ETFs posted $72.5 million in net outflows on Thursday, bringing the streak of daily net outflows to eight trading days. Across the current stretch, which started on Sept. 29, cumulative net outflows have reached about $641.3 million.
BTC drops to $80,427 before rebounding
The fund withdrawals came as Bitcoin’s upward move weakened. CoinGecko data showed BTC fell to an intraday low of $80,427 on Thursday and later recovered to $82,506.
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