Bitcoin ETFs Register Net Outflows for Third Straight Day
Bitcoin (BTC) and ether (ETH) spot exchange-traded funds (ETFs) are contributing to downward price pressures, with bitcoin down 6% and ether down 10%. On October 3, investors withdrew $54.2 million from bitcoin ETFs, marking three consecutive days of net outflows totaling $361.2 million. Major outflows were from Ark's ARKB ($58.0 million) and Fidelity's FBTC ($37.2 million), while BlackRock's IBIT saw an inflow of $36.0 million. Grayscale's GBTC had minimal outflows of $5.9 million this week. The 11 ETFs have raised $18.5 billion since inception, with average investor gains of 3-10%. Ether ETFs experienced a net outflow of $3.2 million, primarily from Grayscale's ETHE ($14.7 million), totaling $2.9 billion in withdrawals. BlackRock ETHA had a $12.1 million inflow, with total ether ETF outflows at $555.4 million. Bitcoin was trading at $61,608 and ether at $2,391.
