Bitcoin ETFs See $90 Million Outflow as BTC Dips Below $86,000
US spot Bitcoin exchange-traded funds (ETFs) experienced a notable reversal on Monday, marking $89.9 million in net outflows. This shift ended a two-day streak of inflows and coincided with Bitcoin's price dip below $86,000. According to SoSoValue data, the prior two trading sessions in October had seen roughly $293 million in inflows, with trading volume reaching $2.18 billion. However, momentum faded alongside the decline in Bitcoin's value.
Bitcoin was trading at approximately $85,559 at the time of publication, around 32% below its all-time high of $126,080, which was reached on October 6, 2023. The cumulative net inflows into US spot Bitcoin ETFs have since decreased by 5.8%, falling from about $61.3 billion to $57.7 billion. This reversal highlights how quickly ETF flows can change when spot prices soften, particularly as Bitcoin approaches the anniversary of its record high.
Ether spot ETFs also underperformed, recording roughly $51 million in net outflows, extending their losing streak to five consecutive trading days. The combined funds lost $206 million over this period, though cumulative net inflows remain positive at about $13.8 billion. Traders often interpret multi-day drawdowns in ETF flows as more than a temporary sentiment swing, suggesting potential pressure on short-term price action.
Among altcoin ETFs, Solana and Zcash posted net outflows of $9.3 million and $3.6 million, respectively. XRP ETFs, however, saw no net flows on Monday, following $3.3 million in outflows on Friday. These mixed results indicate a selective market rather than a universally risk-off stance.