Bitcoin ETFs Gain $301M Despite Late-Week Sell-Off

US-listed spot Bitcoin exchange-traded funds (ETFs) attracted around $301 million in net inflows last week, snapping a two-week outflow streak despite heavy withdrawals late in the week.

The funds lost about $228 million the previous week and $680 million the week before. October’s net outflows stood at about $314 million, according to Farside Investors data.

Bitcoin ETFs drew $1.08 billion between Monday and Wednesday as Bitcoin (BTC) climbed to a weekly high of $84,777 on Wednesday, according to CoinGecko. Investors then withdrew about $774 million on Thursday and Friday as BTC retreated toward $80,000.

ETF investors have tended to sell into Bitcoin declines, according to research published Thursday by market maker DWF Labs. The company found net outflows during seven of eight Bitcoin sell-offs of at least 15% since US spot Bitcoin ETFs launched in January 2024.

“ETF investors aren’t the dip buyers people think they are,” DWF said.

At the time of publication, Bitcoin traded at $80,025, down around 3.3% over the past seven days. The Crypto Fear & Greed Index fell to a “Neutral” reading of 50, down from “Greed” at 59 a week earlier.

US spot Ether ETFs recorded a fourth consecutive week of net outflows, shedding about $221 million last week, according to Farside Investors data.