Bitcoin ETFs lose $90 million as BTC trades 32 percent below year-old high
US spot Bitcoin exchange-traded funds (ETFs) experienced a significant reversal on Monday, shedding $89.9 million after two days of inflows. Bitcoin's price also dipped below $86,000, extending its decline from the all-time high of $126,080 reached exactly one year prior.
The pullback in Bitcoin ETFs came after they attracted around $293 million over the previous two trading sessions in October. Total trading volume for these funds reached $2.18 billion, according to SoSoValue data. Despite the recent outflows, cumulative net inflows into US spot Bitcoin ETFs have fallen only 5.8% since their peak, from $61.3 billion to $57.7 billion.
US spot Ether (ETH) ETFs also recorded roughly $51 million in net outflows on Monday, marking their fifth consecutive day of losses. These funds have lost a combined $206 million during this streak, with cumulative net inflows now standing at $13.8 billion.
Other altcoin ETFs showed mixed results. Solana (SOL) and Zcash (ZEC) funds recorded net outflows of $9.3 million and $3.6 million, respectively. Meanwhile, XRP ETFs saw no net flows after posting $3.3 million in outflows on Friday.