$301M in fresh capital ends Bitcoin ETF two-week withdrawal trend
Spot Bitcoin ETFs in the United States recorded $301 million in net positive flows for the week despite significant withdrawals following an impressive opening three days.
Spot Bitcoin exchange-traded funds trading on US markets pulled in approximately $301 million in net positive flows during the previous week, bringing an end to a fortnight-long trend of capital outflows even though substantial withdrawals occurred toward the week's conclusion.
These investment vehicles experienced roughly $228 million in net withdrawals during the preceding week, following a $680 million exodus the week prior to that. Data from Farside Investors indicates that October witnessed net withdrawals totaling approximately $314 million.
The Bitcoin ETFs experienced inflows of $1.08 billion spanning Monday through Wednesday, coinciding with Bitcoin (BTC) reaching its weekly peak of $84,777 on Wednesday, as reported by CoinGecko. Subsequently, investors pulled approximately $774 million from these funds across Thursday and Friday as BTC declined back toward the $80,000 level.
Research released on Thursday by market maker DWF Labs reveals that ETF investors have demonstrated a pattern of selling during Bitcoin price declines. The firm's analysis identified net capital outflows occurring in seven out of eight instances when Bitcoin experienced sell-offs of 15% or greater since US spot Bitcoin ETFs made their debut in January 2024.
ETF investors aren't the dip buyers people think they are
DWF Labs
As of the time this article was published, Bitcoin was changing hands at $80,025, representing approximately a 3.3% decline across the previous seven-day period. The Crypto Fear & Greed Index dropped to a "Neutral" level of 50, declining from a "Greed" rating of 59 recorded one week prior.
Spot Ether ETFs listed in the US saw their fourth straight week of net capital withdrawals, losing roughly $221 million throughout the past week, based on data provided by Farside Investors.