What Just Happened to Bitcoin and Ethereum ETFs?
U.S. spot Bitcoin and Ethereum exchange‑traded funds (ETFs) just had one of their worst days ever. According to data from SoSoValue, over $755 million in combined outflows hit the market on Monday — the first trading day after a weekend of brutal liquidations that erased more than $500 billion from global crypto markets.
The Ethereum Spot ETF chart from SoSoValue reveals a sharp daily net outflow of $428.52 million as of October 13, underscoring one of ETH’s worst institutional sentiment drops since its ETF debut. Despite holding a cumulative net inflow of $14.48 billion, the one‑day red wave was dominated by BlackRock’s ETHA fund, which saw $310 million pulled out, followed by outflows from Grayscale, Fidelity, and Bitwise.
No Ethereum ETF reported any inflows that day. The total traded value hit $2.82 billion, while total net assets stood at $28.75 billion, representing 5.56 % of Ethereum’s total market cap. Interestingly, even as outflows surged, ETH ETFs posted strong daily price gains above 6 %, hinting that market makers and arbitrage traders were likely repositioning after the massive weekend liquidation rather than abandoning Ethereum entirely.
The Bitcoin Spot ETF dashboard paints a similar yet more moderate picture, recording $326.52 million in daily outflows on the same date, October 13. This marked a cautious withdrawal phase following extreme weekend volatility.
Still, the cumulative story remains strong — Bitcoin ETF collectively hold $62.44 billion in net inflows, signaling resilient long‑term confidence. Among issuers, BlackRock’s IBIT stood out with $60.36 million in fresh inflows, while Grayscale’s GBTC and Fidelity’s FBTC lost $145.39 million and $93.28 million, respectively.
The total value traded reached $6.63 billion, with overall ETF net assets at $157.18 billion, accounting for 6.81 % of Bitcoin’s market cap. While all major funds closed lower on the day, the data shows Bitcoin ETFs holding relatively stronger institutional backing compared to Ethereum, suggesting that risk‑averse investors are trimming exposure selectively rather than exiting crypto altogether.
Why Are Investors Pulling Out?
Analysts say it’s not panic, but caution. Vincent Liu, CIO at Kronos Research, explained that Monday’s massive ETF withdrawals reflect “post‑liquidation caution.” In other words, investors are waiting for the dust to settle after the weekend’s chaos.
He added, “Investors are pausing, clearly waiting for clearer macro signals before putting more capital to work. Sentiment is driving activity more than fundamentals now.”
The weekend crash was triggered by U.S. President Donald Trump’s confirmation that he would impose a 100 % tariff on Chinese imports, sparking fears of a renewed trade war. That single announcement wiped 10 % off crypto prices before Trump softened his tone, allowing a partial recovery.
Is This the Start of a Bigger Trend?
Probably not. Min Jung, a research associate at Presto Research, said the sharp outflows likely reflect short‑term institutional risk management rather than a lasting bearish trend.
“ETF flows should begin to stabilize as markets absorb the weekend’s volatility and broader macro uncertainty,” Jung said.
Still, the market is on edge. China’s new statement that it is “ready to fight to the end” in the trade conflict has already sent another shockwave. As of Tuesday, Bitcoin dropped 2.54 % to $112,283, and Ether fell 3.39 % to $4,030, according to The Block.
What Happens Next?
The next few weeks will be all about macroeconomic signals — any move from the U.S. or China could swing sentiment overnight. Expect traders to stay cautious, with ETF flows likely to recover slowly rather than bounce immediately.
Here’s the thing: what just happened wasn’t a collapse in belief — it was a moment of collective restraint. After one of the largest liquidations in crypto history, big money is simply catching its breath.