Bitcoin and Ether ETFs See $1.22 Billion Weekly Exodus as ‘Uptober’ Starts on the Back Foot

In digital assets, the tide has turned for the flagship spot exchange‑traded funds tracking Bitcoin and Ethereum. Data through October 12 show a combined net outflow of roughly US$1.22 billion from Bitcoin and Ether ETFs over the past week, snapping the steady inflow trend that ran through much of September. Bitcoin’s spot price remains elevated around the US$80,000 mark, but part of the rally has tempted investors—especially those who added aggressively in Q3—to lock in profits.

Daily flow figures underline how cautious sentiment has become. On October 12 alone, Bitcoin ETFs shed about US$65 million, while Ether products saw redemptions of roughly US$85 million, according to aggregator data. With the 10‑year US Treasury yield anchored above 5%, some institutional allocators appear to be rotating out of high‑beta crypto exposure into cash‑like instruments and short‑duration bonds that now offer compelling yields with far less volatility.

Historically, October has often been friendly to Bitcoin, giving rise to the nickname “Uptober.” This year, however, the backdrop is more complicated. Upcoming US inflation data and renewed speculation about additional Federal Reserve tightening, together with softer demand for Ethereum’s staking‑related yield, have combined to put crypto ETFs on the defensive. Whether flows can swing back into positive territory will likely hinge on how those macro numbers land and how quickly risk appetite recovers.