US Bitcoin and Ether ETFs Face Significant Outflows in October
- Combined net outflows for Bitcoin ETFs and Ether ETFs reached nearly $1 billion in October.
- On Thursday alone, Bitcoin ETFs saw $244.1 million in net outflows, following a record $484.9 million on Wednesday.
- Ether ETFs experienced $72.5 million in outflows on Thursday, marking eight consecutive trading sessions of losses.
- Total October net outflows include $407.4 million for Bitcoin ETFs and $578.9 million for Ether ETFs.
- The price of Bitcoin fell to as low as $80,427 on Thursday, with a current trading value of around $82,506.
The significant withdrawals from both Bitcoin ETFs and Ether ETFs indicate investor caution amid a weakening cryptocurrency rally and declining prices.
In total, the funds have recorded approximately $986.3 million in outflows this month, reflecting ongoing market volatility.(Source)
