A streak of institutional outflows from crypto ETF market this week, including Bitcoin, Ethereum, Dogecoin, and XRP ETF has pushed the Web3 market sentiment into the “fear” zone.
There’s a growing consensus among market observers that the recent market slump is more of a positioning reset than a structural break.
Crypto investors are eagerly awaiting Bitcoin’s (BTC) rebound, as it trades around $109,000 at the time of writing.
Meanwhile, Ethereum (ETH) has lost about 10% over the past week, currently trading at around $4,000.
To put things in perspective, the US spot BTC and ETH ETFs have recorded massive weekly outflows, with billions wiped off the crypto market amid heavy liquidations.
At the same time, newly listed XRP and Dogecoin ETFs continued to draw attention after record-setting debuts in September.
Below, we break down what mattered in the week and how the latest funds could impact demand in Q4. Is this a pause before the next leg, or the start of a broader rotation?
US Spot Bitcoin and Ethereum ETF Record Nearly $1.7 Billion in Outflows
Both Bitcoin and Ethereum ETF declined over the week, with BlockRock’s IBIT falling 3.4% and ETHA 4.21%.
While there was a brief recovery, the latter half of the week saw significant downward pressure on both.
The US spot BTC ETFs recorded a net outflow of about $902 million over the past week. On Friday alone, investors pulled $418.25 million, the highest in a single day since the August slump.
In the meantime, US spot ETH funds logged their largest weekly outflows since launch. For context, they recorded a negative flow of nearly $795.6 million last week, including five consecutive days of redemptions.
ETH temporarily saw a pullback toward $3,800 on September 25, illustrating how quickly ETF demand can impact its price.
If macro risk eases and prices stabilize above key support levels, we could see a resurgence in ETF flows soon.
Will Altcoin Crypto ETF Market Gain Momentum as XRP, DOGE Launch?
Following the SEC’s adoption of general listing standards for crypto ETPs this month, new filings and listings have accelerated across the board.
That context helps explain the US debuts of REX-Osprey’s crypto ETF namely, XRP ETF (ticker: XRPR) and Dogecoin ETF (ticker: DOGE) in mid-September.
Early investor response has been remarkable. XRPR posted $37.7 million in day-one trading volume, the largest single-day figure for any US ETF launched in 2025.
DOJE also surprised investors with roughly $17 million on day one, placing it among the top ETF debuts this year. These figures show increasing demand for regulated exposure to non-BTC/ETH assets through traditional brokerage accounts.
It’s worth keeping in mind that ETF volume isn’t the same as inflows. A high turnover shows engagement, while net redemptions show money moving in or out.
Both the XRP and Dogecoin ETF are still in their early days and have not shown significant volatility in the previous week.
Looking ahead, the streamlined SEC pathway suggests more altcoin ETFs could arrive in Q4, with industry watchers speculating about additional XRP and DOGE ETPs.
Similar to BTC/ETH funds, flows can shift rapidly in response to macroeconomic events and investors’ risk-on sentiment.
