Key Takeaways
- • U.S. spot Bitcoin ETFs shed $137.9 million on Friday, Oct. 24, but still finished the week up roughly $301 million, snapping a two-week losing streak, according to Decrypt's ETF tracker.
- • Bitcoin spot ETFs remain down about $314 million for October, with cumulative net inflows at $57.6 billion and total net assets of $100.2 billion.
- • Ethereum ETFs lost about $221 million on the week and are down roughly $1.18 billion for October, while Solana ETFs are down about $68 million for the month.
- • Bitcoin slipped 1.1% to about $80,490 over the weekend and is down 1.2% on the week, per CoinGecko, with Myriad prediction markets assigning a 43% chance of a drop to $77,500 before month-end.
- • Thursday's $635.6 million outflow was the largest of October and erased a midweek turn positive for the month.
Summary
U.S. spot Bitcoin ETFs ended a choppy week in positive territory, but only narrowly. According to Decrypt's ETF tracker, the funds shed $137.9 million on Friday, their second straight day of outflows. The two-day slide totaled about $773.5 million, eating into a $1.07 billion inflow run from Monday through Wednesday. Even so, the funds finished the week up roughly $301 million, ending a two-week losing streak.
October remains a negative month for the products. The funds briefly turned positive for the month midweek, but Thursday's $635.6 million exit, the largest single-day outflow of the month, reversed that gain. Bitcoin ETFs are now down about $314 million for October. Cumulative net inflows stand at $57.6 billion since the funds debuted in January 2024, against $100.2 billion in total net assets.
Ethereum ETFs eked out a $4.4 million inflow on Friday but lost about $221 million on the week, leaving them down roughly $1.18 billion for October. Ethereum funds have taken in $12.7 billion in net inflows since launching in July of 2024. Solana ETFs recorded no net flows Friday after shedding $8.9 million on Thursday and are down about $68 million for the month. Because issuers report flows daily and much of the capital comes from institutions and financial advisers, the figures are closely watched as a gauge of investor sentiment.
Prices softened into the weekend. Bitcoin fell 1.1% over 24 hours to about $80,490 and is down 1.2% on the week, according to CoinGecko. Ether dropped 2.6% to roughly $2,344, Solana fell 2.8% to about $101, and total crypto market capitalization slipped 1.2% to $2.79 trillion. The weakness followed a midweek global selloff in which oil climbed above $111 a barrel and AI stocks slid.
Traders on Myriad, a prediction market developed by Decrypt's parent company Dastan, have turned more bearish on Bitcoin's October close. They now assign a 43% probability of a drop to $77,500 before month-end, up from 32% a day earlier, and an 18% chance of a fall to $75,000. The odds of Bitcoin reaching $87,500 fell to 10% from 17%. The week had opened more constructively after J.P. Morgan Asset Management projected 10% annual returns for Bitcoin over the next decade, but analysts have since described the market as being in a "wait-and-see" mode.
October remains a negative month for the products. The funds briefly turned positive for the month midweek, but Thursday's $635.6 million exit, the largest single-day outflow of the month, reversed that gain. Bitcoin ETFs are now down about $314 million for October. Cumulative net inflows stand at $57.6 billion since the funds debuted in January 2024, against $100.2 billion in total net assets.
Ethereum ETFs eked out a $4.4 million inflow on Friday but lost about $221 million on the week, leaving them down roughly $1.18 billion for October. Ethereum funds have taken in $12.7 billion in net inflows since launching in July of 2024. Solana ETFs recorded no net flows Friday after shedding $8.9 million on Thursday and are down about $68 million for the month. Because issuers report flows daily and much of the capital comes from institutions and financial advisers, the figures are closely watched as a gauge of investor sentiment.
Prices softened into the weekend. Bitcoin fell 1.1% over 24 hours to about $80,490 and is down 1.2% on the week, according to CoinGecko. Ether dropped 2.6% to roughly $2,344, Solana fell 2.8% to about $101, and total crypto market capitalization slipped 1.2% to $2.79 trillion. The weakness followed a midweek global selloff in which oil climbed above $111 a barrel and AI stocks slid.
Traders on Myriad, a prediction market developed by Decrypt's parent company Dastan, have turned more bearish on Bitcoin's October close. They now assign a 43% probability of a drop to $77,500 before month-end, up from 32% a day earlier, and an 18% chance of a fall to $75,000. The odds of Bitcoin reaching $87,500 fell to 10% from 17%. The week had opened more constructively after J.P. Morgan Asset Management projected 10% annual returns for Bitcoin over the next decade, but analysts have since described the market as being in a "wait-and-see" mode.
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