Summary

  • Spot Bitcoin ETFs in the U.S. have experienced a net decline of $386.3 million in October, following a significant outflow of $484.9 million on Wednesday, marking their worst day since June, despite a $21.1 million inflow on Friday.
  • Ethereum ETFs have continued their outflow streak, losing $635 million this month and nearly $700 million overall during this period.
  • Solana ETFs also report losses, totaling $24.8 million for October after five consecutive days of outflows.

The anticipated “Uptober” for crypto ETFs has not materialized as expected.

According to Decrypt’s ETF tracker, U.S. spot Bitcoin ETFs saw a modest inflow of $21.1 million on Friday, following substantial outflows of $484.9 million on Wednesday and $244.1 million on Thursday. Despite this slight recovery, the funds have recorded a net outflow of $386.3 million in the first week of October.

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Bitcoin and other crypto asset ETFs provide investors with exposure to digital currencies without needing to use crypto exchanges or wallets. These funds track the asset's price and trade similarly to stocks on brokerage platforms, becoming a reliable indicator of market sentiment since their inception.

The month began on a positive note, with inflows totaling $292.6 million on October 1 and 2. However, an inflow of $118.8 million on October 6 was unable to counteract the subsequent selling, leading to Wednesday's outflow being the largest since June.

Bitcoin ETF flows. Image: Decrypt

This trend marks a stark contrast to September, when Bitcoin ETFs experienced a surge of nearly $3 billion in inflows after a failed Senate vote on the Clarity Act caused heavy outflows earlier that month.

Ethereum ETFs have seen even steeper declines. The funds lost an additional $56.1 million on Friday, bringing their outflow streak to nine consecutive days.

Ethereum ETF flows. Image: Decrypt

In total, Ethereum ETFs have lost $635 million in October, with an overall outflow of nearly $700 million since the streak began, including a single-day exit of $201.9 million on October 6. Since their launch, cumulative net inflows stand at $13.2 billion, with total net assets of $14.5 billion.

Similarly, Solana ETFs have also faced losses, albeit to a lesser extent. These funds saw a loss of $3.8 million on Friday, continuing a five-day outflow streak, bringing October’s total loss to $24.8 million. Their only inflow this month was $1.3 million on October 2, with cumulative net inflows amounting to $137.9 million.

For Bitcoin ETFs, cumulative net inflows since their launch reach $57.6 billion, with total net assets held amounting to $100.6 billion, according to Decrypt’s tracker.

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