Crypto ETF Outflows Pass $1 Billion in October: Is Wall Street Dumping Bitcoin and Ethereum?

The money that pushed Bitcoin to its all-time high is now heading for the exits. US spot Bitcoin and Ethereum ETFs recorded $986.3 million in combined net outflows through Thursday, according to Farside Investors, and Friday's numbers pushed the October total over the $1 billion mark. Zoom out to every crypto ETF on the board and the picture gets uglier: $1.29 billion left $Bitcoin, $Ethereum, $Solana, $Zcash and $Hyperliquid funds in a single week.

That is the largest wave of selling since June. So what is going on, and should you care?

Why Are Bitcoin ETFs Seeing Outflows Right Now?

Bitcoin ETFs lost $678.9 million between Monday and Friday, a sharp reversal from the $241.1 million they attracted the week before. Wednesday alone saw $484.9 million walk out the door, the biggest single-day outflow since June 25, followed by another $244.1 million on Thursday.

The selling was not evenly spread. Fidelity's FBTC shed $380.3 million and ARK 21Shares' ARKB lost $207.2 million, together accounting for the lion's share of the damage. BlackRock's IBIT, the world's largest Bitcoin fund, finished the week almost flat at a $1.1 million inflow, after a $207.7 million Wednesday withdrawal wiped out two strong days of buying.