Bitcoin ETFs See Heavy Outflows

🟠Spot Bitcoin ETFs in the U.S. ended the week with net outflows exceeding $1.2 billion, following BTC’s drop below $104,000. Funds managed by BlackRock and Fidelity recorded the largest redemptions, making October one of the toughest months for institutional crypto investors so far. However, retail participation continues to rise.

🟠Rick Wurster, CEO of Charles Schwab, noted that the company’s clients now hold one-fifth of all crypto ETPs in the U.S., while platform traffic has surged 90% year-over-year. Despite the “red week,” analysts expect that a potential Fed rate cut and Bitcoin’s historically strong “Uptober” seasonality could restore optimism in the second half of the month.