Bitcoin
US Spot Bitcoin ETFs Record $485 Million in Net Outflows, Erasing October Gains
United States spot Bitcoin funds experienced their heaviest single-day withdrawals since June, erasing the positive inflows accumulated earlier in the month.
United States spot Bitcoin exchange-traded funds recorded $484.9 million in net outflows on Wednesday, according to data from Farside Investors. The significant withdrawal reversed the previous day's net inflow of $118.8 million and marked the largest single-day redemption for the funds since June 25, when outflows reached $691.7 million.
The single-day loss eliminated the $321.6 million in net inflows gathered across the first four trading sessions of October, leaving the products with an aggregate net outflow of around $163 million for the month so far. BlackRock’s iShares Bitcoin Trust accounted for the largest share of Wednesday's exits at $207.7 million, following a $122 million inflow on Tuesday. Fidelity’s FBTC and ARK 21Shares’ ARKB also logged notable outflows of $105.1 million and $101.7 million, respectively.
Following the ETF redemptions, Bitcoin was trading near $82,700 on Thursday, reflecting a 2% decline over a 24-hour window. Spot Ether funds also recorded sustained withdrawals on the same day, shedding $160.9 million to extend their outflow streak to seven consecutive sessions.
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