Bitcoin, Ether ETFs’ October outflows swell toward $1B

What happened: US spot Bitcoin and Ether ETFs recorded nearly $1 billion in combined net outflows in October. Bitcoin ETFs lost $244.1 million on Thursday, and Ether funds extended their outflow streak to eight sessions. Key numbers: October net outflows total $407.4 million for Bitcoin ETFs and $578.9 million for Ether ETFs, $986.3 million combined. Ether's streak began Sept. 29 with about $641.3 million shed. Why it matters: The withdrawals coincide with a weakening Bitcoin rally. Glassnode said a pickup in spot trading volume and ETF buying would show the recent breakout had real support.

US spot Bitcoin and Ether ETFs recorded nearly $1 billion in combined net outflows in October. Bitcoin ETFs lost $244.1 million on Thursday, and Ether funds extended their outflow streak to eight sessions.

The withdrawals coincide with a weakening Bitcoin rally. Glassnode said a pickup in spot trading volume and ETF buying would show the recent breakout had real support.