Cryptocurrency investment products could not maintain their two-week inflow streak, experiencing negative fund flows last week after the market crash dubbed crypto’s “Black Friday.”
Crypto exchange-traded products (ETPs) faced $513 million in outflows last week, concluding the two-week stretch that amounted to $9.1 billion, as reported by CoinShares on Monday.
Commenting on the total $668 million of outflows triggered by the “Binance liquidity cascade” on October 10, CoinShares head of research James Butterfill noted that the ETP market showed less panic than the spot market.
He indicated that while crypto ETP investors largely “shrugged off this event,” onchain investors appeared more pessimistic.
Bitcoin was the sole major asset to experience outflows
Bitcoin (BTC) was the main contributor to losses in crypto ETPs last week, witnessing outflows totaling $946 million. This decline brought year-to-date inflows down to $29.3 billion, significantly trailing last year’s total of $41.2 billion, Butterfill pointed out.
Conversely, Ether (ETH) continued to thrive as investors capitalized on the dip, resulting in $205 million of inflows. The largest inflows were directed towards a 2x leveraged Ether ETP, amounting to $457 million, noted Butterfill.
Solana (SOL) and XRP (XRP) saw continued inflows, spurred by optimism regarding new ETP launches, with inflows totaling $156 million and $74 million, respectively. Specifically, Solana ETPs stood out, with inflows rising 67% compared to the previous week.
The Crypto Fear & Greed Index falls to multimonth lows
The recent outflows from crypto ETPs coincided with the Crypto Fear & Greed Index—a metric that gauges overall sentiment in the cryptocurrency market—slipping to levels not seen since April.
According to data from Alternative.me, the index fell to a score of 22 on Friday, as Bitcoin dropped below $105,000, reflecting significant “Fear” among spot BTC investors.
The “Fear” sentiment persisted into Monday with a score of 29. The lowest index level recorded in 2025 so far was a score of 10, noted in late February, when Bitcoin experienced a sharp drop from $96,000 to roughly $84,000, according to CoinGecko data.
Related: What is Bitcoin if not crypto? Rumored Satoshi Nakamoto weighs in
At the time of publication, Bitcoin was trading at $111,019, experiencing a decline of about 3% over the past week and roughly 4% over the past month.
Ether was trading at $4,035, down around 3% in the past week and 9% over the preceding 30 days.
Magazine: Ether’s price to go ‘nuclear,’ Ripple seeks $1B XRP buy: Hodler’s Digest, Oct. 12 – 18
