US spot Bitcoin ETFs shed $89.9M on Monday, reversing two days of inflows as Bitcoin slipped below $86K. Spot Ether products lost another $18.9M, extending their losing streak to five sessions.
Solana funds recorded $9.2M of withdrawals, making Oct. 5 a clean sweep of red across the three major spot-crypto ETF categories. Combined outflows reached roughly $117.9M.
The selling was issuer-specific
ARK 21Shares' ARKB led Bitcoin ETF redemptions at $85.2M, followed by Fidelity's FBTC at $74.5M. BlackRock's iShares Bitcoin Trust went the other way, pulling in $69.9M.
That split suggests investors aren't abandoning Bitcoin ETFs across the board. Instead, the selling has been concentrated in specific funds, with another day of heavy redemptions becoming the signal to watch.
Bitcoin ETFs are still positive for October after strong inflows on Oct. 1 and 2, including $189.9M on the second day of the month. Ether funds have had a rougher stretch, losing about $206M since Sept. 29.
One year past the peak
The latest outflows landed a day before the anniversary of Bitcoin's $126.08K all-time high on Oct. 6, 2025. Bitcoin is roughly 32% below that record, though it has recovered about 45% from its late-June and early-July lows.
Past cycles show recoveries from drawdowns of this size have taken 28 to 38 months. Bitcoin is only 12 months removed from its peak, despite a strong third quarter that saw it gain 43.5%, while Ethereum surged 71%.
More than $172M in leveraged crypto positions were wiped out over 24 hours after another failed Bitcoin push above $87K.
Ethereum's Estimated Leverage Ratio fell to a seven-month low of 0.66, while Binance ETH CVD swung from $1.94B on Aug. 21 to negative $1.36B on Oct. 5.
That $3.30B reversal marks the heaviest selling since Aug. 6, but ETH remains roughly 44% above its level that day. Buyers have continued absorbing the sell orders, with traders watching Wednesday's Federal Reserve meeting minutes for the next catalyst.
