Institutional Outflows Hit Bitcoin and Ether ETFs, Solana’s Streak Ends
- Bitcoin ETFs experienced $681 million in net outflows, ending a three-week inflow streak.
- Ether funds saw $542 million in outflows, marking the largest weekly withdrawal since January.
- Solana ETFs recorded $24.81 million in net outflows, breaking a streak of fourteen consecutive weeks of inflows.
- XRP ETFs attracted $11.31 million, while NEAR added $13.05 million during the same period.
- Blackrock’s ETHA accounted for approximately $477 million of last week’s ether redemptions.
The cryptocurrency market faced significant institutional outflows as Bitcoin ETFs and ether funds lost over $1.2 billion by October’s second week due to increased inflation concerns and rising oil prices impacting investor sentiment.
Despite the downturn in major cryptocurrencies, XRP and NEAR managed to attract new investments, suggesting selective interest remains among investors even as broader market conditions tighten.
