Spot Bitcoin exchange-traded funds (ETFs) in the United States experienced over $1.2 billion in outflows this week, even as Charles Schwab reports growing investor interest in the products.
On Friday alone, the eleven US spot Bitcoin ETFs collectively saw $366.6 million leave, capping a challenging week for both the asset and Bitcoin-linked institutional investment vehicles.
BlackRock’s iShares Bitcoin Trust led the outflows, shedding $268.6 million, according to SoSoValue. Fidelity’s Bitcoin fund dropped $67.2 million, Grayscale’s GBTC lost $25 million, and the Valkyrie ETF recorded a minor outflow. The remaining ETFs reported no activity on Friday.
Overall, the week ended with a net outflow of $1.22 billion, with Tuesday being the only day to record a modest inflow.
The decline in ETFs mirrored Bitcoin’s own downturn, as the cryptocurrency fell more than $10,000—plunging from just over $115,000 on Monday to a four-month low below $104,000 by Friday.
Schwab Reports Strong Crypto Engagement
Charles Schwab CEO Rick Wurster remains optimistic about crypto exchange-traded products (ETPs), highlighting that the firm’s clients hold 20% of all crypto ETPs in the United States.
Speaking on CNBC on Friday, Wurster noted that crypto ETPs have been “very active,” with traffic to Schwab’s crypto site rising 90% over the past year.
“It’s a topic that’s of high engagement.”
Charles Schwab runs one of the largest brokerages in the U.S., noted ETF expert Nate Geraci on Saturday, adding, “hope you’re paying attention.”
The firm currently offers crypto ETFs and Bitcoin futures and has plans to introduce spot crypto trading for clients in 2026.
A Red October for Bitcoin
Bitcoin, which has historically posted gains in ten of the past twelve Octobers, is bucking the trend this month, falling 6% so far, according to CoinGlass.
Despite the decline, analysts remain optimistic that the traditional “Uptober” rally could still materialize, noting that past gains often occur in the second half of the month and that potential Federal Reserve rate cuts could provide additional momentum.
