Bitcoin ETFs shed $1.2B in red week, but Schwab remains bullish

Spot Bitcoin exchange-traded funds in the United States have seen more than $1.2 billion in outflows this week, but Charles Schwab is seeing more interest in the products. 

The eleven spot Bitcoin ETFs in the US saw an aggregate outflow of $366.6 million on Friday, which rounded off a for the asset and Bitcoin-associated institutional investment products. 

BlackRock’s iShares Bitcoin Trust saw the largest outflow as the product lost $268.6 million, to SoSoValue. Fidelity’s fund shed $67.2 million, Grayscale’s GBTC outflowed $25 million, and there was a minor outflow from the Valkyrie ETF. The rest saw zero flows on Friday.

Another red day for Bitcoin ETFs resulted in a total outflow of $1.22 billion for the week, which only saw one minor inflow day on Tuesday. 

The ETF exodus came as the underlying asset dumped more than $10,000 in a crash from just over $115,000 on Monday to bottom out at a four-month low of just below $104,000 on Friday. 

Schwab sees high engagement 

Charles Schwab CEO Rick Wurster remains bullish on crypto exchange-traded products, stating that the asset manager’s clients own 20% of all crypto ETPs in the country.

Crypto ETPs have been “very active,” he said on CNBC on Friday, noting that visits to the company’s crypto site have gone up 90% in the past year.

“It’s a topic that’s of high engagement.”

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Charles Schwab operates one of the largest brokerages in the US, noted ETF expert Nate Geraci on Saturday, who , “hope you’re paying attention.”

Schwab currently offers crypto ETFs and Bitcoin futures and spot crypto trading to its clients in 2026. 

A red October for BTC

Bitcoin has seen gains in ten out of the past twelve Octobers, but this month is breaking the trend as the asset has lost 6% so far, to CoinGlass.

However, analysts that Uptober will resume as historical gains have usually come in the second half of the month and anticipated Federal Reserve rate cuts could fuel the rally.

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