Key Insights:
- Crypto ETFs recorded $1.22 billion in combined Bitcoin and Ethereum withdrawals.
- Bitcoin ETFs ended three consecutive weeks of inflows as redemptions accelerated.
- XRP funds attracted fresh capital ahead of another Solana ETF listing.
U.S. crypto ETFs faced renewed selling pressure during the week ending Oct. 9, as institutional fund flows diverged. Bitcoin and Ethereum exchange-traded funds recorded approximately $1.22 billion in combined net withdrawals. XRP investment products attracted inflows, although the broader market continued to decline.
The divergence exposed differences in investor demand across major digital assets. While Bitcoin and Ethereum products faced redemptions, XRP funds attracted fresh subscriptions despite falling token prices. Meanwhile, Hong Kong is prepared to expand its spot Solana ETF market with another listing.
Crypto ETFs Record Heavy Withdrawals as Bitcoin Price Falls
Farside Investors’ Bitcoin ETFs data showed that U.S. spot funds recorded approximately $679 million in weekly net outflows. The withdrawals ended three consecutive weeks of positive flows, reversing the previous accumulation trend.
Selling accelerated during the middle of the week as institutional investors reduced exposure across several issuers. Wednesday recorded $484.9 million in net withdrawals, followed by another $244.1 million on Thursday.
BlackRock’s iShares Bitcoin Trust (IBIT) recorded $207.7 million in withdrawals during Wednesday’s session. Fidelity’s Wise Origin Bitcoin Fund (FBTC) also lost $105.1 million, while ARK 21Shares’ ARKB experienced redemptions.
Thursday’s withdrawals concentrated heavily around Fidelity, which lost another $197.1 million. However, Friday brought $21.1 million in net inflows, interrupting the previous two sessions’ selling pressure.
CoinMarketCap’s historical market data placed Bitcoin at $82,546 on Oct. 9. The cryptocurrency had declined 2.31% over seven days, reflecting weaker demand across the broader market.
The price decline coincided with fund withdrawals, although ETF flows alone cannot establish the cause of the selling. Spot cryptocurrency prices also reflect activity across exchanges, derivatives markets, and other investment channels.
Ethereum ETFs Face Persistent Redemptions Led by BlackRock
Farside Investors’ Ethereum ETF records showed approximately $542 million in net withdrawals during the same trading week. BlackRock’s iShares Ethereum Trust (ETHA) accounted for most of the selling.
The fund experienced approximately $477 million in withdrawals over five sessions, with redemptions concentrated in a single major product. Its largest daily withdrawal occurred on Tuesday, when investors removed $201.9 million.
Further selling followed on Wednesday as other funds also recorded withdrawals. Grayscale’s ETHE lost $25.8 million that session, alongside smaller redemptions from several competing products.
Unlike Bitcoin funds, Ethereum ETFs failed to record a positive aggregate session throughout the week. The pattern extended an earlier period of withdrawals and indicated persistent weakness in net fund demand.
CoinMarketCap recorded Ether near $2,486 on Oct. 9, following a 6.84% weekly decline. Its underperformance against Bitcoin coincided with sustained withdrawals from Ethereum investment products.
However, net ETF redemptions do not measure every institutional investor’s position. They capture fund creations and redemptions rather than all direct cryptocurrency purchases or holdings.
XRP ETF Inflows Contrast with Broader Crypto ETFs
SoSoValue figures circulated by market observers indicated that U.S. spot XRP ETFs attracted $11.31 million in weekly inflows. The reported purchases contrasted with withdrawals across the largest Bitcoin and Ethereum products.
The inflows suggested continued demand within XRP’s regulated investment market despite weakness across other digital assets. However, their relatively small scale limited their effect on broader cryptocurrency fund flows.
CoinMarketCap’s historical snapshot placed XRP near $1.395 on Oct. 9, down 6.04% over seven days. That decline demonstrated that positive ETF subscriptions did not necessarily translate into immediate price appreciation.
Investor subscriptions can reflect allocation decisions that differ from short-term market trading activity. Fund inflows also provide limited insight into how individual investors expect cryptocurrency prices to perform.
Solana funds faced separate selling pressure during the same period. Farside Investors’ Solana ETF dataset recorded withdrawals, adding another category to the weekly deterioration in fund demand.
The contrasting fund movements, therefore, indicated selective investor activity rather than a broad recovery in cryptocurrency exposure.
Crypto ETFs Face Another Test as Hong Kong Adds Solana Fund
Hong Kong Exchanges and Clearing confirmed that Pando Solana ETF would begin trading on Oct. 13, 2026. The exchange assigned the stock code 2831 to the product, expanding local access to regulated exposure to Solana.
Pando Finance’s product documentation also identified the scheduled listing date. The launch provided another institutional investment channel despite recent weakness in U.S. cryptocurrency fund flows.
The listing does not guarantee immediate subscriptions or higher Solana prices. Its early trading activity will offer another measure of investor demand for regulated cryptocurrency products.
Investors will next assess the Oct. 12 U.S. ETF trading session and Hong Kong’s Oct. 13 launch. Those developments will provide fresh evidence of demand across established and newer cryptocurrency investment products.
