Ethereum and Bitcoin ETFs record $755m outflows

Bitcoin and Ethereum spot ETFs recorded a combined $755 million in net outflows on Oct. 13, amid renewed trade tensions between the U.S. and China.

According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded about $326.5 million in net outflows on Monday, with the bulk of redemptions coming from Grayscale’s GBTC, Bitwise’s BITB, and Fidelity’s FBTC, which saw withdrawals of $145.3 million, $115.6 million, and $93.2 million, respectively.

BlackRock’s IBIT, however, bucked the trend by attracting $60.4 million in new inflows, partially offsetting the day’s overall outflows.

The heavy outflow yesterday comes after two consecutive weeks of strong inflows, during which the investment products attracted $3.24 billion and $2.71 billion, respectively.

Meanwhile, demand for Ethereum spot ETFs appeared to take an even bigger hit on Monday, with the nine ETH funds posting $428.5 million in outflows, surpassing those of the Bitcoin ETFs.

BlackRock’s ETHA led the losses, seeing about $310 million leave the fund. Notably, none of the Ethereum products recorded any inflows during the day.

Just like Bitcoin ETFs, these funds had also enjoyed two consecutive weeks of positive inflows in which they managed to pull in $1.3 billion and $488 million, respectively, before the latest reversal.

Taken together, the combined outflows from both Bitcoin and Ethereum spot ETFs totaled around $755 million, marking the largest single-day withdrawal since Aug. 19, when they saw nearly $1 billion in outflows.

The notable outflows across both investment products suggest that institutional investors have shifted to a risk-off stance after President Donald Trump announced on social media that the U.S. would impose a new 100% tariff, in addition to existing duties, on all Chinese imports effective Nov. 1.

The move reportedly comes in response to China’s recent decision to implement new global export controls on rare earth minerals and critical software, materials vital to high-tech and AI-related manufacturing.

The trade conflict also appears to be spilling over into other sectors, with both the U.S. and China preparing to introduce new port fees on each other’s commercial shipping vessels starting mid-October 2025.

Some key U.S. officials, however, have indicated that both governments are still seeking to strike a deal before the Nov. 1 tariff deadline.

Bitcoin and Ethereum prices remain muted

Bitcoin (BTC) and Ethereum (ETH), the two largest crypto assets by market cap, were hit hard amid the escalating trade fears. Bitcoin dropped to as low as $103,000, retreating sharply from its recent all-time high recorded just days earlier, while Ethereum slipped below the crucial $3,700 support level. Although both have since staged partial recoveries, they remain down about 9.2% and 12.5% over the past week.

The Crypto Fear and Greed Index, a closely watched metric by investors to gauge crypto market sentiment, had improved from “extreme fear” to “fear”, hinting that sentiment has been gradually stabilizing since Friday’s tariff announcement. 

However, traders would most likely continue to remain in wait-and-watch mode as they wait for more clarity on the upcoming U.S.–China trade discussions before making any major moves back into the market.

As of press time, Bitcoin was trading around $112,600, while Ethereum was priced at $4,070.