Last week, US spot Bitcoin exchange-traded funds (ETFs) experienced significant outflows, the second-largest since their launch in 2024. According to data from SoSoValue, the total net outflows experienced during the week ending October 18 totaled approximately $1.23 billion. The departure came after a turbulent trading week for Bitcoin, which fell from roughly $121,000 to $103,700 before climbing back above $111,000.
Bitcoin Trust experienced the most significant withdrawals, losing a total of $268.6 million. The Wise Origin Bitcoin Fund of Fidelity and GBTC of Grayscale came in second and third with outflows of $67.2 million and $25 million, respectively. Other funds, such as the ETF Valkyrie, experienced a few redemptions.
Last week, net inflows were recorded for only one day, totaling $102.7 million on Tuesday. Farside Investors reported that four out of five trading days recorded negative flows, underscoring declining institutional confidence in the face of increased market uncertainty.
Total outflows during this week were only second to the $2.6 billion withdrawn in the week ending February 28. The swift turnaround from the prior week’s inflows of $2.7 billion highlights the changing mood among investors, as is exposed to severe price swings and the greater market risks of financial markets.