The ETF market turned red again as investors rushed to the exits. What began as a cautious pullback earlier in the week erupted into full-blown outflows on Thursday, Oct. 16, with both bitcoin and ether ETFs facing intense selling pressure.
Bitcoin ETFs suffered $536.44 million in net outflows, their largest daily loss in weeks. The damage was widespread, hitting eight of the twelve funds tracked. Ark & 21Shares’ ARKB fund led the exodus with a $275.15 million withdrawal, followed by Fidelity’s FBTC with $132 million in losses. Grayscale’s GBTC saw $44.97 million leave its coffers, while Blackrock’s IBIT and Grayscale’s Bitcoin Mini Trust lost $29.46 million and $22.52 million, respectively.
Further redemptions were seen across Bitwise’s BITB (-$20.58 million), Vaneck’s HODL (-$6.12 million), and Valkyrie’s BRRR (-$5.65 million). Despite heavy trading activity totaling $8.08 billion, overall net assets plunged to $146.44 billion, underscoring the sharp market retreat.
Mixed trading week for bitcoin ETFs. Source: Sosovalue
Ether ETFs didn’t escape the storm either, recording a total of $56.88 million in outflows. Grayscale’s ETHE led with $69.03 million in redemptions, followed by Bitwise’s ETHW (-$15.83 million) and Fidelity’s FETH (-$11.60 million). Smaller exits came from Grayscale’s Ether Mini Trust (-$4.37 million) and Franklin’s EZET (-$2.94 million).
A lone bright spot emerged in Blackrock’s ETHA, which attracted $46.90 million, softening the blow from the day’s heavy withdrawals. Trading volume reached $2.90 billion, with net assets totaling $26.51 billion. It was a sobering trading session for crypto ETF investors, a reminder that after weeks of inflows, the market can still turn on a dime.
FAQ
How severe were the crypto ETF outflows on Oct. 16?
Bitcoin ETFs lost $536 million and ether ETFs shed $57 million in one of the sharpest sell-offs in weeks.Which Bitcoin ETF saw the biggest redemptions?
Ark 21Shares’ ARKB led the outflows with a $275 million withdrawal, followed by Fidelity’s FBTC.Did any ether ETF see inflows during the sell-off?
Yes, Blackrock’s ETHA attracted $47 million, partly offsetting broader market losses.What does this sell-off suggest about current market sentiment?
It reflects a sharp shift to risk-off behavior as investors locked in profits after weeks of inflows.
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