On October 16, US spot Bitcoin ETFs withdrew $536.44 million, marking their second consecutive day of outflows, with none of the twelve ETFs experiencing a net inflow. According to SoSoValue, Ethereum ETFs saw $56.88 million in outflows.
Bitcoin ETFs recorded a total net outflow of $536.44 million, with Ark &21Shares ARKB leading at $275.15 million. Fidelity FBTC followed with $132.00 million, as Grayscale GBTC and BlackRock IBIT posted withdrawals of $44.97 million and $29.46 million, respectively.
Additional sell-offs were recorded by Bitwise BITB of $20.58 million, Grayscale BTC $22.52 million, and VanEck HODL of $6.12 million. Valkyrie BRRR made the smallest transfer of the session with $5.65 million.
Overall, the total trading value surged to $8.08 billion, marking the highest of the week. Net assets came in at $146.44 million, representing 6.81% of Bitcoin market capitalization.
Ethereum ETFs saw a total net outflow of $56.88 million. Grayscale ETHE led the withdrawals with $69.03 million, and Bitwise ETHW followed with $15.83 million. Other notable funds, including Fidelity FETH and Grayscale ETH, also posted sell-offs of $11.60 million and $4.37 million, respectively.
Franklin EZET posted the smallest outflow with $2.94 million, while BlackRock ETHA became the only ETF to post an inflow for the day with $46.90 million. The total trading value reached $2.90 billion, slightly higher than yesterday. Net assets came in at $26.51 billion, marking 5.70% of Ethereum’s market cap.
Bitcoin price dropped to $109,009.66, marking a 10% decline from last week. Its market cap also slipped to $2.17 trillion, while the 24-hour trading volume surged to 87.34 billion.
Meanwhile, Ethereum hit its lowest of October at $3,921.81 on Friday, showing a 2.1% drop in 24 hours. Its 24-hour trading volume reached $48.27 billion, with its market cap of $472.81 billion, signalling a weak market. Both assets continue to show a bearish trend after the U.S.-China trade war tensions.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Ethereum (ETH) price has signaled a potential market reversal ahead. The large-cap altcoin, with a…
While the broader crypto market has moved into the green zone, Pi Network is facing…
Ripple CEO Brad Garlinghouse shared a bullish outlook for the future of crypto during a…
Bitcoin (BTC) price's explosive rise through 2024 and early 2025 has led to one question…
The Ethereum ecosystem has set a new record for transactions per second. Combined activity across…
The cryptocurrency market is rallying today, with Bitcoin driving a broad comeback across major coins.…
