According to Woofun AI, capital flows in the U.S. spot ETF market diverged sharply during the fourth week of October, with Bitcoin ETFs reversing their recent slump on inflows in the $400 million range, while Ethereum ETH faced selling for a fourth consecutive week. Statistics released by SoSoValue on the 26th revealed this structural reversal.
Data compiled by Woofun AI showed that BTC ETFs recorded net inflows of $442.67 million last week, swinging to positive from the prior week's net outflow of $228.58 million. Looking back at the full month of October, BTC ETFs experienced dramatic swings: inflows of $241.09 million in the first week, a hefty outflow of $681.10 million in the second week, and a further outflow of $228.58 million in the third week. Despite the fourth-week recovery, the month still posted a net outflow of $174.50 million. Compared with the robust net inflows of $3.5 billion in August and $2.6 billion in September, October's performance was notably weak.
Meanwhile, ZEC ETFs halted their decline after three weeks of outflows, recording net inflows of $41.09 million last week. Previously, from mid-September through September 18, they had seen a single-week inflow of $98.21 million, but the first three weeks of October brought outflows of $93.56 million, $30.72 million and $19.15 million respectively. The full month accumulated a net outflow of $63.97 million, and last week's inflow was not enough to fully close the gap.
Ethereum ETH and SOL ETFs, by contrast, remained under pressure. ETH ETFs saw outflows of $224.96 million last week. Although that was lower than the prior week's $319.97 million, it marked a fourth straight week of net outflows. The first week of October brought outflows of $138.02 million, the second week $542.07 million, and the third week $319.97 million, bringing the month's cumulative net outflow to as much as $1.22502 billion. This stands in stark contrast to the net inflows of $1.8 billion in August and $800 million in September.
SOL ETFs also suffered three consecutive weeks of net outflows, with $17.30 million leaving last week, down from $25.52 million the prior week. The second week of October saw outflows of $24.81 million and the third week $25.52 million, bringing the cumulative net outflow over the past month to $72.24 million.
Overall, the market recorded combined net inflows of $241.50 million last week, reversing the prior week's net outflow of $593.22 million. Of this, total capital flowing into BTC and ZEC was $483.76 million, with BTC accounting for 91.5%. Its inflow scale was enough to offset outflows from ETH and SOL and push the broader market back into positive territory.
On the price front, CoinMarketCap data for the 26th showed BTC down 0.74% at $81,131, ETH down 1.65% at $2,323, SOL down 1.07% at $101, and ZEC down 0.74% at $1,205. Despite the broad price declines, the divergence in capital flows indicates that institutional appetite for BTC allocation remains strong, while risk-aversion toward ETH and SOL continues to intensify. This marks another round of structural adjustment after September's large-scale inflows, suggesting that capital is reassessing the risk-reward ratio of different crypto assets.
Comments