BlackRock’s iShares Bitcoin Trust led the decline with a $268.6 million outflow, followed by Fidelity’s Wise Origin Bitcoin Fund, which saw $67.2 million withdrawn. Grayscale’s GBTC experienced $25 million in redemptions, while smaller ETFs such as Valkyrie’s also reported minor losses.
The week’s downturn coincided with Bitcoin’s sharp drop — from over $115,000 on Monday to below $104,000 by Friday, its lowest point in four months.
In contrast to the negative sentiment around ETF performance, Charles Schwab remains optimistic about long-term crypto adoption. CEO Rick Wurster said on CNBC that the firm’s clients now own 20% of all U.S. crypto exchange-traded products (ETPs), showing persistent demand even amid volatility.
“Crypto ETPs have been very active,” Wurster noted. “It’s a topic that’s of high engagement,” adding that visits to Schwab’s crypto platform have risen 90% in the past year.
ETF specialist Nate Geraci also highlighted Schwab’s influence in the brokerage space, noting that the company’s continued participation signals growing institutional confidence. Schwab currently offers crypto ETFs and Bitcoin futures, with plans to launch spot crypto trading by 2026.
Charles Schwab CEO on crypto…
“It’s a topic that’s of high engagement.”
Schwab clients own *20%* of all crypto exchange traded products.
Historically, October has been a strong month for Bitcoin — gaining in 10 of the past 12 years. However, this year appears different, as the asset has fallen 6% so far, according to CoinGlass.
Still, analysts remain cautiously optimistic, suggesting that potential Federal Reserve rate cuts later this year could revive market momentum.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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