Wintermute Reports Weekly Declines for BTC and ETH Amid Spot ETF Outflows

Wintermute's OTC Desk reported weekly declines of 3.2% for Bitcoin and 7.0% for Ethereum in its October 12, 2026 market update, alongside approximately $680 million in spot BTC ETF outflows. The update, published by Wintermute Trading Ltd., interprets the moves as crypto losing investment-flow support while equities retained earnings support.

Reported Market Performance

According to Wintermute's October 12, 2026 analysis, Bitcoin fell 3.2% and Ethereum declined 7.0% over the prior week. The firm cited approximately $680 million in outflows from spot Bitcoin ETFs during the period. These figures represent Wintermute's observations from its institutional OTC trading desk, not independently verified market-wide statistics.

The October 12 update follows Wintermute's October 5, 2026 report, which noted altcoins' first weekly decline since early August and increasing Bitcoin correlation with equities. An earlier September 28, 2026 update had described strong early-week BTC ETF inflows that subsequently faded, while retail clients on Wintermute's desk rotated from Bitcoin into altcoins.

Context and Outlook

Wintermute's central interpretation is that crypto markets lost investment-flow support while equities retained earnings support. The firm's constructive outlook is conditional on easing yields and returning flows, according to the October 13, 2026 background context provided.

Wintermute Trading Ltd. is registered in England and Wales and with the UK Financial Conduct Authority for cryptoasset activities. Wintermute provides institutional OTC trading across spot assets, options, forwards, CFDs and tailored derivatives. A July 30, 2026 report from the firm stated that institutions represented 72% of spot flow through its OTC desk in the first half of 2026; this figure describes Wintermute's own flow, not the entire crypto market.

Neither Wintermute Trading Ltd. nor Wintermute Asia Pte. Ltd. is authorized or regulated as a financial services provider. The firm trades for its own account and does not engage in asset management, custody or holding of client assets. No independent verification of the reported ETF outflow figure or weekly performance data was available from the source material.

Source: www.wintermute.com.