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.\u00a0<\/p>\n
The eleven spot Bitcoin ETFs in the US saw an aggregate outflow of $366.6 million on Friday, which rounded off a red week<\/a> for the asset and Bitcoin-associated institutional investment products.\u00a0<\/p>\n BlackRock\u2019s iShares Bitcoin Trust saw the largest outflow as the product lost $268.6 million, according<\/a> to SoSoValue. Fidelity\u2019s fund shed $67.2 million, Grayscale\u2019s GBTC outflowed $25 million, and there was a minor outflow from the Valkyrie ETF. The rest saw zero flows on Friday.<\/p>\n 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.\u00a0<\/p>\n 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.\u00a0<\/p>\n Charles Schwab CEO Rick Wurster remains bullish on crypto exchange-traded products, stating that the asset manager\u2019s clients own 20% of all crypto ETPs in the country.<\/p>\n Crypto ETPs have been \u201cvery active,\u201d he said on CNBC on Friday, noting that visits to the company\u2019s crypto site have gone up 90% in the past year.<\/p>\n \u201cIt\u2019s a topic that\u2019s of high engagement.\u201d<\/p><\/blockquote>\n Related: <\/strong><\/em>\u2018ETFtober\u2019 gets bigger, more than 5 new crypto ETFs filed this week<\/strong><\/em><\/a><\/p>\n Charles Schwab operates one of the largest brokerages in the US, noted ETF expert Nate Geraci on Saturday, who said<\/a>, \u201chope you\u2019re paying attention.\u201d<\/p>\n Schwab currently offers crypto ETFs and Bitcoin futures and plans to offer<\/a> spot crypto trading to its clients in 2026.\u00a0<\/p>\n 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<\/a> to CoinGlass.<\/p>\n
<\/figcaption><\/figure>\nSchwab sees high engagement\u00a0<\/h2>\n
<\/figcaption><\/figure>\nA red October for BTC<\/h2>\n