A Red Week for Bitcoin: ETFs Lose Over a Billion Dollars

The week brought a wave of red for Bitcoin exchange-traded funds in the United States, as investors pulled roughly $1.22 billion out of the market.

.According to data from SoSoValue, Friday capped a rough stretch for spot Bitcoin ETFs, with nearly $367 million leaving the market in a single day. BlackRock’s iShares Bitcoin Trust led the outflows, losing over $268 million, followed by smaller redemptions from Fidelity and Grayscale’s GBTC. For most issuers, the week ended without any inflows to offset the bleeding.

The timing wasn’t coincidental – Bitcoin’s price plunged from above $115,000 early in the week to under $104,000, marking a four-month low. The ETF losses mirrored the coin’s decline, as risk appetite across crypto faded sharply.

Still, not everyone is losing faith. Charles Schwab CEO Rick Wurster said in a CNBC interview that his firm’s clients now hold 20% of all crypto exchange-traded products (ETPs) in the U.S. He described crypto as one of the “most engaging topics” among Schwab investors, adding that traffic to the company’s crypto website jumped 90% in the past year.

Read More:

Quiet before the storm: Analysts predict a surge in Bitcoin’s next move

Schwab, one of America’s largest brokerages, already offers crypto-related ETFs and Bitcoin futures – and is planning to introduce spot crypto trading by 2026. ETF strategist Nate Geraci noted that such participation from a major financial institution signals growing mainstream interest in digital assets, despite short-term turbulence.

As for Bitcoin, the month of October, typically known for strong performance, is proving unusually bearish this year. The asset has slipped about 6% so far, though analysts still expect a rebound later in the month if Federal Reserve rate cutscome into play.

For now, the market’s message is clear: capital may be leaving ETFs, but curiosity isn’t fading – and Schwab’s data shows that retail and institutional interest in crypto remains far from over.