U.S. Spot Bitcoin, Ether ETFs Near $1 Billion in October Outflows

U.S. spot Bitcoin and Ether exchange-traded funds recorded nearly $1 billion in combined net outflows in October through Oct. 9, signaling sustained withdrawals from crypto investment products as Bitcoin’s advance weakened.

Bitcoin ETFs accounted for $407.4 million of the total outflow, while Ether ETFs lost $578.9 million. The combined figure reached $986.3 million during the month.

Bitcoin ETFs posted $244.1 million in net outflows Thursday, after losing $484.9 million the previous day. The earlier withdrawal was the largest single-day outflow since June 25.

Ether ETFs recorded $72.5 million in outflows Thursday, extending their losing streak to eight trading sessions. The products have lost about $641.3 million since the current outflow cycle began Sept. 29.

Bitcoin fell to $80,427 at its Thursday low before recovering to $82,506. The ETF flow data covers October activity through Oct. 9.