Bitcoin, Ethereum ETFs return to outflows as market weakness deepens

Investor caution has returned to crypto markets as Bitcoin and Ethereum ETF flows once again turned negative after a brief recovery.

Bitcoin ETFs posted net outflows of $101.3 million on October 22, reversing the $477 million inflow seen the day before. Total trading volume across the funds slipped to $6.58 billion, down from over $7.4 billion a day earlier, signaling weaker trading activity as investors pulled back, according to data from SoSoValue.

BlackRock’s IBIT managed $73.6 million in inflows, but this was outweighed by withdrawals from Fidelity’s FBTC and Grayscale’s GBTC, which each saw roughly $56 million in redemptions. Other issuers, including Ark 21Shares (ARKB) and Bitwise (BITB), also recorded outflows, underscoring broad investor hesitation.

The renewed outflows extend a week-long stretch of underperformance for the BTC-tracking funds, which continue to struggle for positive momentum. While the ETFs briefly rebounded on October 21, the quick reversal suggests demand remains shallow as Bitcoin’s price momentum fades.

Ethereum ETFs also turned negative, recording $18.8 million in outflows after a $141.7 million inflow the previous day. BlackRock’s ETHA was the only fund to see gains, adding $110.7 million, while Grayscale’s ETHE and ETH funds led losses with a combined $80 million in withdrawals.

The pullback also marks Ethereum ETFs’ return to losses after a short-lived rebound in their multi-day downturn. Together, the redemptions across both Bitcoin ETFs and the Ethereum funds reflect fading investor confidence amid deepening market weakness.

Bitcoin, Ethereum ETF outflows reflect broader market pressure

BTC (BTC) is trading around $109,783 at the time of writing, up 1.5% over the past 24 hours but still down 2.4% for the week. The token’s modest rebound followed several days of selling that pushed prices below $108,000 earlier this week. Despite the short-term recovery, the crypto king remains locked in a narrow range as muted trading volumes limit momentum.

Bitcoin’s chart shows a pattern of lower highs since early October, signaling persistent selling pressure after the asset’s mid-month decline. Until the asset decisively breaks above the $112,000 resistance level, investor appetite may remain subdued. 

Ethereum (ETH) mirrors the trend, trading near $3,869, up just 0.2% in 24 hours but down 4.4% over the week. Ether’s price action has been relatively flat, with several attempts to recover above the $3,900 mark failing amid light trading volumes. 

Both assets have struggled to regain traction after sharp declines earlier this month, with total crypto market capitalization now hovering below recent highs. The combination of falling ETF inflows, cautious sentiment, and limited liquidity has kept price recoveries short-lived.