Bitcoin ETFs See $301M Inflow, Ending 2-Week Outflow Streak
MissedBlock Desk · · 2 min read
Updated
Bitcoin ETFs See Net Inflows Despite Late-Week Sell-Off
US-listed spot Bitcoin exchange-traded funds (ETFs) concluded last week with approximately $301 million in net inflows, breaking a two-week streak of outflows. This positive balance was achieved despite significant withdrawals occurring in the latter half of the week.
The funds had previously experienced outflows of about $228 million the week prior and $680 million the week before that. In total, October saw net outflows amounting to roughly $314 million, according to data from Farside Investors.
Between Monday and Wednesday, Bitcoin ETFs attracted $1.08 billion in inflows. During this period, Bitcoin (BTC) reached a weekly high of $84,777 on Wednesday, as reported by CoinGecko. However, investor sentiment shifted, leading to withdrawals of approximately $774 million on Thursday and Friday as BTC prices retreated towards the $80,000 mark.
Research published on Thursday by market maker DWF Labs suggests a pattern of ETF investors selling during Bitcoin’s downturns. The firm’s analysis indicated net outflows during seven out of eight Bitcoin sell-offs of at least 15% since the launch of US spot Bitcoin ETFs in January 2024.
“ETF investors aren’t the dip buyers people think they are,” DWF stated in its findings.
At the time of reporting, Bitcoin was trading at $80,025, marking a decline of around 3.3% over the preceding seven days. The Crypto Fear & Greed Index also fell to a “Neutral” reading of 50, down from a “Greed” level of 59 recorded a week earlier.
Meanwhile, US spot Ether ETFs continued their trend of outflows, recording a fourth consecutive week of net redemptions. These funds shed approximately $221 million last week, according to Farside Investors data.