Key Points

• US spot Bitcoin ETF recorded a net outflow of $261.4 million on October 14
• Ethereum ETF is also under pressure, recording a net outflow of $129.5 million
• A new round of ETF sell-offs coincided with the weakening of the crypto market; both BTC and ETH have declined in the past 24 hours.

U.S. spot Bitcoin and Ethereum exchange-traded funds ( ETF ) recorded a total net outflow of approximately $390.9 million on Wednesday, October 14th, reversing the previous day's rebound.

According to the data from Farside Investors, Bitcoin ETF saw a net outflow of $261.4 million, while Ethereum ETF had an outflow of $129.5 million. As it became difficult for these two cryptocurrencies to regain upward momentum in October, a new round of selling pressure emerged.

Bitcoin ETF saw a net outflow of $261 million, with BlackRock and Fidelity leading the way in capital withdrawals.

U.S. spot Bitcoin ETF recorded a net outflow of $261.4 million on Wednesday, reversing the net inflow of $175.7 million recorded on October 13.

Ethereum ETF sees outflows of $129.5 million; institutional selling returns

Ethereum ETF also returned to a negative range on October 14th, recording a net outflow of $129.5 million, whereas the previous day it had attracted a net inflow of $24.8 million.

However, the cumulative net inflow of US spot Ethereum ETF remains positive, at approximately $13.1 billion.

Inflation concerns intensify, leading to declines in the prices of Bitcoin and Ethereum

ETF The outflow of funds coincided with the selling pressure in the cryptocurrency market. Bitcoin has fallen by about 2.5% in the past 24 hours, and as of press time, its trading price is near $81,326. Ethereum has seen a larger decline, falling by more than 5%, with a trading price of around $2,400.

This decline occurred after the release of U.S. inflation data that was higher than expected, which raised market expectations for another interest rate hike by the Federal Reserve. Higher borrowing costs typically suppress speculative assets, including cryptocurrencies.

Danielle Walgenbach

Danielle is a journalist who covers cryptocurrency and financial markets, with over four years of reporting experience. She is adept at breaking down complex financial and economic topics into clear, well-researched reports.