Recent Trends in Spot Bitcoin ETFs: A Weekly Analysis

Despite closing Friday with positive inflows, U.S. Spot Bitcoin ETFs experienced a notable net outflow for the week. While these funds garnered $25.59 million in inflows on the final day, they ultimately ended the week with an overall outflow of $301 million—marking a significant shift since September 6, when weekly net outflows reached $706.19 million.

Performance Overview of Bitcoin ETFs

According to SoSoValue’s data, there has been a marked transformation in investor attitudes toward cryptocurrency lately, as U.S. Bitcoin ETFs faced an outflow totaling approximately $301.54 million. This abrupt shift coincides with changing market dynamics bitcoinin October, which has seen both Bitcoin and other cryptocurrencies relinquish most of their gains from September after entering this month.

This downturn follows three weeks of consistent inflows; notably, the previous week closed at a total net increase of $1.11 billion.

A Closer Look at Recent Inflows and Outflows

On Friday, as sentiment began to fluctuate and Bitcoin prices hovered around $62,000, these ETFs enjoyed net inflows summing up to $25.59 million. The Bitwise BITB fund attracted $15.29 million while Fidelity’s FBTC received an influx of $13.63 million; however, these gains couldn’t fully counteract the Grayscale GBTC fund’s significant outflow of $13.91 million.

The early part of the week began robustly with an influx tallying to $61.30 million but quickly gave way to substantial weekly losses: Tuesday registered a loss of $242.53 million followed by further declines on Wednesday and Thursday at approximately $91.76 and $54.13 million respectively.
Concluding this period, the total assets under management for U.S.-based Spot Bitcoin ETFs amounted to approximately $57.73 billion, reflecting a decrease from $61.21 billion recorded on September 27—a drop of 5.68%.

A glance at current trading reveals that Bitcoin is priced around $62,025.

Troubles Continue for Ethereum ETFs Amid Downtrends

Synchronized with trends observed in Bitcoin funds, Spot Ethereum ETFs also reported significant net weekly outflows following prior weeks’ increases.
Data from SoSoValue indicates that while Friday saw final-day inflows reaching about $7.39 million, they were insufficient against earlier withdrawals throughout that week—culminating in a total weekly deficit amounting to $30..69million.

The performance metrics indicate that since their inception months ago, Spot Ethereum ETFs have recorded only two weeks characterized by positive inflow trends. The latest uptick occurred last week after six consecutive weeks experiencing negative flows.

Current Holdings Overview for U.S.-Based Spot Funds

• • Overview of Current Holdings for U.S.-Based Spot Funds:
    The total value of holdings amounts to $57.73 billion, spread across Spot Bitcoin ETFs. Additionally, approximately $4.66 billion is allocated within U.S.-based Spot Ethereum ETF portfolios.

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