US spot Bitcoin exchange-traded funds recorded $89.9 million in net outflows on Monday, reversing two consecutive sessions of gains as Bitcoin slipped below $86,000. The withdrawals place renewed attention on whether demand through regulated US funds can stabilize while the market trades well below its 2025 high.
Daily creation-and-redemption data reported by the fund issuers showed that the prior two October sessions had brought roughly $293 million in combined net inflows. Trading volume across the Bitcoin ETF group reached $2.18 billion during that period, indicating active positioning even as the asset’s price weakened.
Bitcoin changed hands near $85,559 at the time of publication, leaving it about 32% below the all-time high of $126,080 reached on Oct. 6, 2025. The decline came one day before the first anniversary of that peak, a date likely to draw comparisons with the market’s previous cycle high.
Bitcoin fund flows turn negative after two-day recovery
The $89.9 million withdrawal interrupted a modest recovery in US-listed spot Bitcoin ETFs. Fund outflows occur when redemptions exceed new share creation, requiring the ETF structure to reduce its Bitcoin exposure or offset the activity through its authorized participants.
The latest figure was relatively limited compared with some of the larger ETF withdrawal days seen during periods of sharp market stress. Yet it arrived as Bitcoin failed to recover the $86,000 level, linking the fund reversal to weaker short-term price momentum rather than a sustained rebound in demand.
Cumulative net inflows into US spot Bitcoin ETFs stood at approximately $57.7 billion after Monday’s session, according to the aggregate fund-flow figures. That was down from roughly $61.3 billion before the latest run of redemptions, although cumulative measures can be affected by revisions and the timing of reported issuer data as well as daily subscriptions and withdrawals.
The funds remain one of the most visible channels for US market participants seeking Bitcoin exposure through traditional brokerage accounts. Their daily flows have become closely watched because they offer a public measure of demand that can differ from activity on offshore derivatives venues or direct purchases on blockchain markets.
A return to outflows after only two positive sessions suggests that the recent buying was not yet enough to establish a durable recovery. The current price range has left ETF buyers weighing Bitcoin’s sizable decline from its record against the possibility that macroeconomic pressure and leveraged derivatives activity could extend the pullback.
Ether funds extend their redemption streak
US spot Ether ETFs also faced continued withdrawals, recording about $51 million in net outflows on Monday. The session marked the fifth straight trading day of redemptions for the Ether products.
Across the five-day stretch, the funds lost a combined $206 million, while their cumulative net inflows remained near $13.8 billion. The persistence of the outflow streak contrasts with the brief two-session recovery in Bitcoin products and points to subdued near-term appetite across the largest US crypto ETF categories.
Ether ETF flows can carry different market implications from Bitcoin flows because Ether has a broader role in decentralized-finance applications, stablecoin settlement and staking. In the near term, though, the parallel weakness in both fund categories indicates that the retreat was not confined to one cryptocurrency or one issuer.
Other crypto-linked funds were mixed. Solana funds registered $9.3 million in net outflows, while Zcash funds lost $3.6 million. XRP ETFs recorded no net flows on Monday after reporting $3.3 million in outflows on Friday.
The figures show a market in which regulated crypto-fund demand has become selective rather than uniformly positive. Smaller and newer product categories can see larger percentage changes in daily flows because their asset bases and trading activity are lower than those of the Bitcoin funds.
Rates and futures positioning remain in focus
The ETF withdrawals coincided with a market environment shaped by restrictive US monetary policy. The Federal Reserve’s policy rate was around 4%, keeping borrowing costs elevated for households, companies and traders that rely on financing.
John Williams, president and chief executive officer of the Federal Reserve Bank of New York, has recently indicated that policymakers do not see an urgent need to rapidly alter the current policy path. For crypto markets, that stance limits expectations that a quick turn toward cheaper money will provide an immediate boost to risk assets.
Bitcoin’s movement below $86,000 also directs attention toward derivatives markets, where leverage can amplify price swings. Chicago Mercantile Exchange data showed average open interest of 264,600 contracts during the first half of the year. Open interest measures the number of futures contracts that remain outstanding, making it a useful indicator of how much leveraged exposure remains in the market.
A rapid drop in open interest alongside falling prices can signal the unwinding of bullish positions. Rising open interest during a decline, by contrast, can point to fresh short positioning or additional leveraged bets on continued weakness. Neither measure offers a price forecast on its own, but both can help explain why Bitcoin’s intraday moves become sharper when liquidity thins.
The $80,000 area has emerged as a closely watched psychological level after Bitcoin’s retreat from its 2025 peak. Whether ETF inflows return before that level is tested may offer a clearer indication of whether regulated-fund demand is treating the pullback as an entry point or waiting for more favorable macroeconomic and market conditions.
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