Crypto ETFs See $549M in Weekly Outflows as BTC and ETH Face Pressure

Crypto ETFs tied to Bitcoin and Ethereum recorded combined net outflows of $548.55 million during the week ending October 16. Ethereum products accounted for the larger share, extending their withdrawal streak to three consecutive weeks.

According to SoSoValue data, U.S. spot Bitcoin funds lost $228.58 million, while Ethereum funds recorded $319.97 million in withdrawals. BlackRock’s products contributed significantly to both totals.

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

Bitcoin ETFs Record $229M in Weekly Outflows as BlackRock’s IBIT Leads Selling

Spot Bitcoin ETF products posted net outflows of $228.58 million for the week. BlackRock’s IBIT was the biggest seller among crypto ETFs with $165 million in redemptions.

The daily numbers swung back and forth. Monday opened with $65.40 million in outflows. Tuesday brought the best day of the week with $175.62 million in inflows.

Wednesday wiped that out with $261.46 million leaving the funds. Thursday added a thin $5.06 million, and Friday closed with another $82.39 million in outflows.

This follows a heavier week. Spot Bitcoin funds lost $681.10 million in the week ending October 9, so the two-week total now sits near $910 million. The Bitcoin ETF group last saw a positive week in early October, when $241.09 million came in.

Total net assets 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, so money is still moving through these funds. More of it is heading out than coming in.

Crypto ETFs Tied to Ethereum See $320M in Outflows for a Third Straight Week

Spot Ethereum ETFs recorded $319.97 million in net outflows, with money leaving on four of the five trading days.

The only green day came on Tuesday, October 13, with $24.84 million in inflows. Every other session was negative, including a $129.51 million outflow on Wednesday.

The three-week picture looks rough for Ethereum crypto ETFs. 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 products fell to $14.95 billion, down from $17.78 billion in late September. Cumulative net inflows now stand at $12.94 billion. Out of the last 12 trading sessions, Ether funds saw inflows on just one day.

Can Bitcoin Hold Key Support Amid Persistent ETF Outflows?

Bitcoin is trading around $81,980 on the 1-hour chart. The price recovered from the recent low near $79,800 but is now pulling back from its latest local high. The short-term outlook is 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 is at $81,500 to $81,800.

Holding it could help BTC stabilize and try 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 has to find demand elsewhere.

In the bullish case, BTC holds $81,500 to $81,800 and climbs back above $82,800 to $83,200, which opens the path toward $83,500 to $84,000.

In the bearish case, BTC loses $81,500, and selling accelerates, sending the price back to the $80,000 to $80,500 zone. The $79,800 low would then be the level to defend.

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.