U.S. spot Bitcoin ETFs are down a net $386.3 million through the first seven trading days of October, according to Decrypt's ETF tracker, after a $484.9 million single-day exit on Wednesday marked the funds' worst session since June.

Friday brought a modest $21.1 million inflow, but it did little to repair the damage. The funds bled $484.9 million on Wednesday and another $244.1 million on Thursday — back-to-back outflows that wiped out the gains from a strong start to the month.

October opened on a positive note, with $292.6 million in inflows across Oct. 1 and 2. A $118.8 million inflow on Oct. 6 failed to offset the selling that followed, and Wednesday's exit became the largest single-day loss since June.

The reversal is sharp by recent standards. Bitcoin ETFs had just posted a nine-session inflow streak worth roughly $3 billion in late September, following heavy mid-month outflows triggered by the Senate's failed cloture vote on the Clarity Act. That run pushed year-to-date flows back into positive territory.

How bad is the Ethereum picture?

Ethereum ETFs have fared worse. The funds shed $56.1 million on Friday, extending their outflow streak to nine consecutive trading days. They have lost $635 million so far in October and nearly $700 million over the full streak. The heaviest single-day exit came on Oct. 6, at $201.9 million.

Despite the pressure, the structural position of the products remains substantial. Ethereum ETFs hold $14.5 billion in total net assets, with cumulative net inflows since launch standing at $13.2 billion.

What about Solana?

Solana ETFs are also in the red for October, though on a far smaller scale. The funds lost $3.8 million on Friday, their fifth straight day of outflows, bringing the month's net total to a loss of $24.8 million. Their only inflow this month was $1.3 million on Oct. 2. Cumulative net inflows since launch stand at $137.9 million.

For Bitcoin ETFs, the longer-term picture is similarly durable. Cumulative net inflows since launch total $57.6 billion, and the funds hold $100.6 billion in total net assets, according to Decrypt's tracker.

Crypto ETFs allow investors to gain exposure to digital assets without using exchanges or wallets. The funds track the price of the underlying asset and trade like stocks on brokerage platforms, and their flows have become a widely watched proxy for institutional and retail sentiment toward crypto.

Whether the October outflows mark a durable shift or a pause in an otherwise positive trend will become clearer in the remaining trading sessions of the month, which historically has favored crypto markets.