Bitcoin ETFs experienced net outflows of $101.3 million on October 22, reversing the $477 million inflow recorded the previous day. Total trading volume across the funds fell to $6.58 billion, down from over $7.4 billion a day earlier, signaling weaker investor activity, according to SoSoValue data.
BlackRock’s IBIT saw $73.6 million in inflows, but this was offset by withdrawals from Fidelity’s FBTC and Grayscale’s GBTC, which each recorded roughly $56 million in redemptions. Other issuers, including Ark 21Shares (ARKB) and Bitwise (BITB), also posted outflows, highlighting broad investor caution.
The renewed withdrawals extend a week-long period of underperformance for BTC-tracking funds, which have struggled to maintain momentum. While the ETFs briefly rebounded on October 21, the swift reversal indicates that demand remains shallow amid weakening Bitcoin price action.
Ethereum ETFs also turned negative, posting $18.8 million in outflows after a $141.7 million inflow the day before. BlackRock’s ETHA was the only fund to see gains, adding $110.7 million, while Grayscale’s ETHE and ETH led losses with a combined $80 million in redemptions. The pullback marks Ethereum ETFs’ return to losses following a short-lived rebound in their multi-day downturn.
Together, the redemptions across Bitcoin and Ethereum ETFs reflect fading investor confidence as market pressure intensifies.
Bitcoin is trading around $109,783 at the time of writing, up 1.5% over the past 24 hours but still down 2.4% for the week. The token’s modest recovery followed several days of selling that pushed prices below $108,000 earlier in the week. Despite the short-term bounce, Bitcoin remains confined to a narrow trading range, with muted volumes limiting momentum.
Bitcoin’s chart shows a series of lower highs since early October, indicating sustained selling pressure following the mid-month pullback. Unless the asset can decisively break above the $112,000 resistance level, investor demand may stay muted.
Ethereum is following a similar trajectory, trading near $3,869—up just 0.2% in the past 24 hours but down 4.4% for the week. Ether has struggled to reclaim the $3,900 level, with multiple recovery attempts failing amid thin trading volumes.
Both cryptocurrencies have faced difficulty regaining momentum after sharp declines earlier this month. With total crypto market capitalization remaining below recent peaks, a combination of dwindling ETF inflows, cautious investor sentiment, and limited liquidity has kept price rebounds short-lived.
