$1.2B Outflows from US Bitcoin ETFs Amid Price Volatility
U.S. spot Bitcoin ETFs experienced over $1.2 billion in outflows this week, marking a challenging period for digital asset products.
- On October 17, Bitcoin ETFs recorded a $367 million net outflow, the third consecutive day of outflows.
- Ethereum ETFs saw $232 million in outflows, with no inflows reported across nine funds.
According to SoSoValue data:
- BlackRock's iShares Bitcoin Trust led redemptions with $268.6 million.
- Fidelity's fund lost $67.2 million, and Grayscale’s GBTC had $25 million in outflows.
- This marked the worst week for Bitcoin ETFs since mid-2024, with a single inflow day on Tuesday.
- The outflows were accompanied by Bitcoin’s price drop from above $115,000 to below $104,000.
Schwab Reports Increased Retail Interest
- Charles Schwab CEO Rick Wurster mentioned that their clients hold 20% of all U.S. crypto ETPs.
- Visits to Schwab’s crypto portal increased by 90% year-on-year.
- Schwab offers exposure via crypto ETFs and Bitcoin futures and plans to introduce a stablecoin.
Long-Term Holders Remain Steady
- Glassnode reports a 2% drop in Bitcoin’s illiquid supply in Q3, while liquid supply increased by 12%.
- CryptoQuant analyst notes an ongoing accumulation, with exchange and OTC desk supply dropping from 4.5 million to 3.1 million BTC between 2024 and 2025.
BTC Price Analysis
- Analyst Ted Pillows suggests Bitcoin must reclaim the $108,000–$109,000 zone for confidence.
- If successful, BTC could rally towards $112,000; failure may expose the $100,000 region.