U.S. spot Bitcoin ETFs ended a two-week losing streak with net inflows of approximately $301 million for the week, despite shedding $137.9 million on Friday. The weekly positive result was driven by strong early-week activity, where funds saw $1.07 billion in inflows from Monday through Wednesday. However, this momentum reversed sharply late in the week, with Thursday’s outflow of $635.6 million marking the largest single-day exit of October and contributing to a total two-day slide of about $773.5 million.
Despite the weekly recovery, Bitcoin ETFs remain down roughly $314 million for the month of October. Cumulative net inflows since their January 2024 debut stand at $57.6 billion, against total net assets of $100.2 billion. In contrast, Ethereum ETFs faced continued pressure, ending the week down about $221 million and leaving them with a monthly deficit of approximately $1.18 billion. Solana ETFs also struggled, recording no net flows on Friday after a $8.9 million loss on Thursday, resulting in a monthly decline of about $68 million.
Market prices reflected this volatility, with Bitcoin slipping 1.1% over 24 hours to about $80,490 and falling 1.2% on the week. Ethereum dropped 2.6% to roughly $2,344, while Solana declined 2.8% to about $101. The broader crypto market cap decreased by 1.2% to $2.79 trillion. This weakness coincided with global market selloffs triggered by rising oil prices above $111 per barrel and declines in AI stocks. Prediction markets indicate growing bearish sentiment, with traders assigning a 43% probability that Bitcoin will drop to $77,500 before the end of October.
The divergence between weekly and monthly performance highlights the fragility of current investor sentiment in the crypto ETF space. While the snap of a two-week losing streak suggests some resilience, the substantial monthly deficits across Bitcoin, Ethereum, and Solana funds indicate that institutional and retail confidence remains unsettled. The fact that Bitcoin ETFs briefly turned positive midweek only to be pushed back into the red by a single large outflow underscores how sensitive these products are to short-term liquidity shifts and macroeconomic headwinds.
From a Market Structure perspective, the correlation between crypto asset declines and traditional market stressors—such as rising oil prices and AI stock volatility—suggests that digital assets are increasingly trading as risk-on proxies rather than independent safe havens. The prediction market odds shifting toward lower price targets reflect a cautious stance among traders who are weighing the potential for further downside against the historical seasonality of October. Investors should monitor whether the cumulative net inflow figures stabilize or if the trend of monthly outflows accelerates, which could signal a deeper correction in demand for regulated crypto exposure.
