US spot Ethereum ETFs posted $201.9 million in net outflows on October 6, while Bitcoin ETFs took in $118.8 million the same day. The split marks a sharp one-day divergence in institutional demand for the two largest crypto assets, even as Bitcoin itself struggles to clear a key resistance level.
Ethereum ETFs post their heaviest outflow in weeks
US spot Ethereum ETFs recorded $201.9 million in net outflows on October 6, according to data from Farside Investors. The entire withdrawal came from BlackRock's ETHA, while the other tracked products recorded no net movement for the session.
The size of the outflow stands out against a broader pattern. Farside had already recorded $55.4 million of ETH ETF outflows on October 1, $37.4 million on October 2 and $50.8 million on October 5 before the larger October 6 withdrawal, making the latest session harder to dismiss as an isolated print.
Bitcoin funds draw inflows, but price stalls below resistance
US spot Bitcoin ETFs recorded roughly $118.8 million in net inflows on October 6, with BlackRock's IBIT accounting for $122 million of positive flow before smaller movements elsewhere in the group. However, the inflows have not translated into a price breakout.
Bitcoin was trading near $84,000 after another failure to break above its yearly open at $87,700, according to Bitfinex. The rejection marked the third failed breakout attempt in the past ten days, after Bitcoin had reached $87,200 on October 2 before retreating.
Weaker leverage and softening spot demand
Bitfinex said futures open interest rose $2.1 billion before the September payrolls report, then fell $1.5 billion as traders closed positions after the data. Aggregate futures open interest now stands at about 625,000 BTC, its lowest level since January 1, suggesting lower leverage in the market.
Spot demand has also weakened. US spot Bitcoin ETFs recorded $241.1 million in net inflows from September 28 to October 2, about 90% below the $2.39 billion recorded a week earlier, with the nine-day inflow streak ending on September 30 with a $148.7 million outflow. Bitfinex said Bitcoin's next move will depend more on renewed spot demand than on additional futures leverage.
Sources: NewsBTC, CryptoPotato
Trading involves risk.
Risk Disclaimer
