Bitcoin funds shed nearly $1 billion last week following the October 10 liquidity cascade, with the damage mostly in U.S.-listed funds, according to a new report from digital asset manager CoinShares.

Bitcoin bore most of the sell-off, posting $946 million in outflows. The Oct. 10 crash has been widely linked to a threat from President Donald Trump to hike tariffs on Chinese goods by 100%.

Bitcoin was recently trading for $111,016 after having gained 2.9% in the past 24 hours. But BTC was still lagging its price last week by 3.2%, and down 4.2% compared to a month ago, according to crypto price aggregator CoinGecko.

Ethereum has gained 1.9% in the past day and was recently  trading at $4,036.65—only 3.3% lower than it was a week ago. XRP was changing hands for $2.46 after having gained 2.6% in the past day, and Solana was trading for $192.41 after rising 1% since yesterday.



“Outflows were U.S.-focused, while Germany, Switzerland, and Canada recorded inflows as investors bought the dip,” James Butterfill, the firm’s head of research, wrote in the report. He added that exchange-traded product trading remained elevated at $51 billion last week—nearly double this year’s weekly average.

Butterfill noted that dip-buyers rotated into altcoins.

“Ethereum investors buy the dip,” he wrote, adding that Ethereum funds generated $205 million worth of net inflows. The segment was also helped by launch-day excitement for U.S.-based options for Solana and XRP began trading on CME last week. Exchange-traded products linked to SOL and XRP pulled in $156 million and $93.9 million worth of deposits on their debut.

But overall optimism for SOL is still lagging. Users on Myriad, a prediction market platform owned by Decrypt parent company Dastan, now think there’s a 36.3% chance that Solana hits a new all-time high before the end of the year.

Butterfill added that the Oct. 10 crash didn’t show up with the same severity in ETPs as it did in on-chain liquidations. The crash occurred Friday afternoon—critically, after markets had closed for the week.

“Net outflows following this event now total $668 million, suggesting investors in the ETP world shrugged off this event,” he said, "while on-chain investors were more bearish.

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