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 red week 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, according 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.”
Related: ‘ETFtober’ gets bigger, more than 5 new crypto ETFs filed this week
Charles Schwab operates one of the largest brokerages in the US, noted ETF expert Nate Geraci on Saturday, who said, “hope you’re paying attention.”
Schwab currently offers crypto ETFs and Bitcoin futures and plans to offer 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, according to CoinGlass.
However, analysts remain confident 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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