US Bitcoin exchange-traded funds (ETFs) experienced significant outflows this week, shedding more than $1.2 billion in the face of a price drop. While this marked one of the worst weeks for the sector since its launch earlier this year, major brokerage firm Charles Schwab suggests investor interest in crypto products remains strong despite market volatility. Data from SoSoValue reveals that eleven US spot Bitcoin ETFs saw combined outflows of $366.6 million on Friday, with BlackRock’s IBIT leading the losses at $268.6 million. Fidelity’s Wise Origin Bitcoin Fund also reported outflows of $67.2 million, while Grayscale’s GBTC shed $25 million. Smaller outflows were observed from Valkyrie’s ETF, while the remaining funds saw no change in holdings. bitcoin prices plummeted throughout the week, leading to Friday’s losses and dropping below a four-month low of $103,700. This decline coincided with a market downturn across both traditional and crypto sectors. However, Charles Schwab CEO Rick Wurster remains optimistic about the long-term potential of cryptocurrency investment products. “Crypto ETPs have been very active,” he stated on CNBC Friday. “The traffic to our crypto information site has surged 90% over the past year.” This comes as Schwab prepares to offer spot crypto trading by 2026, positioning itself as a leader in the growing space. Despite the recent downturn, industry experts note that investor interest is not diminishing. Nate Geraci, ETF analyst at X, highlights Schwab’s aggressive crypto push, noting their plans for offering spot crypto trading alongside significant growth in their crypto ETP holdings. Meanwhile, Bitcoin’s October performance this year has deviated from its historical trend of consistent gains. The month is known for delivering substantial positive returns ten out of the past twelve years, however, it currently shows a decline of over 6%. Analysts remain hopeful that the second half of October could bring a surge in momentum. This expectation stems from the fact that Bitcoin’s biggest October gains have historically materialized later in the month. Additionally, anticipated Federal Reserve rate cuts might reignite bullish sentiment towards risk assets across the board.