Bitcoin and Ethereum ETFs are moving in opposite directions once again, as traders remain cautious after last week’s flash crash that shook global crypto markets.
Bitcoin ETFs experience heavy outflows
U.S. spot Bitcoin exchange-traded funds (ETFs) recorded $104.1 million in net outflows on October 15, erasing the previous day’s $102.7 million gains. This continued the volatile flow pattern seen since last week’s historic market drop.
Grayscale’s GBTC led the exodus with $82.9 million in outflows, followed by Invesco’s BTCO with $11.1 million. BlackRock’s IBIT losing $10.1 million, while other Bitcoin ETFs reported no significant movements.
In total, Bitcoin ETFs have now seen $332.3 million in net outflows since the crash, highlighting ongoing investor hesitation and liquidity concerns across the market.
Ethereum ETFs attract strong inflows
While Bitcoin ETFs struggled, Ethereum ETFs added $169.6 million in net inflows on the same day. BlackRock’s ETHA dominated the activity, pulling in $164.3 million, followed by Bitwise’s ETHW and Fidelity’s FETH, which gained $12.3 million and $1 million, respectively.
Only 21Shares’ CETH saw outflows, losing $8 million, while all other Ethereum ETFs remained flat. Despite recent volatility, Ethereum ETFs have shown relative resilience compared to their Bitcoin counterparts.
Market reacts to geopolitical tensions
The recent crypto flash crash began after former U.S. President Donald Trump posted on Truth Social, threatening to impose 100% tariffs on Chinese imports in response to China’s potential export restrictions on rare earth metals — critical to U.S. tech manufacturing.
The announcement triggered panic across the markets. Bitcoin plunged nearly 15%, dropping toward $100,000 on some exchanges, while Ethereum tumbled over 20%. The broader crypto market saw at least $20 billion in liquidations, marking the largest crypto wipeout in U.S. dollar terms.
Although prices briefly recovered as Trump appeared to ease tensions, Bitcoin has since retraced to around $111,357, down 9.2% over the past week. Ethereum currently trades near $4,046, a 7.4% weekly decline.
Traders remain cautious but optimistic
According to Vetle Lunde, Head of Research at K33, the current environment remains fragile:
“Structural effects from the unwind mean liquidity will likely stay thin as market participants recover from forced selling. Historically, such deleveraging phases lead to short-term stagnation and cautious trading, but they also tend to mark exhaustion points, creating fertile ground for longer-term recovery once stability returns.”
As investors weigh geopolitical risks and market volatility, ETF flow data suggests a growing divergence between Bitcoin and Ethereum sentiment — with Ethereum currently gaining the upper hand in institutional confidence.
