Bitcoin and Ether Exchange spot funds in the United States saw a combined outflow of more than $755 million on Monday following record cryptocurrency liquidations over the weekend.
Bitcoin ETFs (BTC) saw net outflows of $326.52 million, according to SoSoValue data. The largest outflow from Fidelity’s Wise Origin Bitcoin Fund (FBTC) was $93.28 million, while Grayscale’s Bitcoin Trust (GBTC) saw an outflow of $145.39 million.
Other notable funds including Ark 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF (BITB) also recorded daily outflows of $21.12 million and $115.64 million, respectively. However, BlackRock’s iShares Bitcoin Trust (IBIT) saw inflows of $60.36 million.
At the time of writing, total cumulative inflows remained at $62.44 billion, and total net assets of all BTC cash ETFs reached $157.18 billion, or 6.81% of Bitcoin’s market capitalization. A total of $2.71 billion flowed into funds last week.
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Ether ETFs saw outflows of $428 million
On Monday, Ether ETFs (ETH) saw an outflow of $428.52 million. The largest daily outflow of $310.13 million was recorded by BlackRock’s iShares Ethereum Trust (ETHA), followed by Grayscale’s Ethereum Trust (ETHE) ($20.99 million) and Fidelity’s Ethereum Fund (FETH) with $19.12 million.
Bitwise’s Ethereum ETF (ETHW) and VanEck’s Ethereum ETF (ETHV) also experienced smaller losses. ETHA remained the largest fund with net assets of $17.02 billion and a market share of 3.29%, while the ETH ETF’s total trading volume was $2.82 billion daily.
The outflow of funds came after a record $20 billion was liquidated in the cryptocurrency market over the weekend following U.S. President Donald Trump’s announcement that the United States would impose 100% tariffs on all Chinese imports from November 1 in retaliation for Beijing’s up-to-date export restrictions on infrequent earth minerals.
Public companies and ETFs currently control 12.2% of Bitcoin’s total supply. Steady growth in holdings occurs as a result of continued institutional accumulation throughout the year.
Related: DeFi Booms as $11 Billion Bitcoin Whale Raises ‘Uptober’ Hopes: Finance Redefined
Caution causes cryptocurrency ETF outflows
Vincent Liu, chief investment officer of Taiwan-based Kronos Research, told Cointelegraph that the withdrawal came as investors were cautious following recent liquidations.
“Investors remain on the sidelines, waiting for clearer macro direction before re-engaging,” Liu said. “For now, market sentiment is outweighing fundamentals in driving activity,” he added.
The analyst noted that events such as the resolution of the U.S. government shutdown or progress in trade negotiations could lend a hand restore confidence, potentially sparking renewed interest in both Bitcoin and Ether ETFs.
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