TLDR
- US spot Bitcoin ETFs recorded $484.9 million in net outflows on Wednesday, the largest since June 25.
- The outflows erased $321.6 million in October inflows, leaving the funds about $163 million in the red for the month.
- BlackRock’s iShares Bitcoin Trust led withdrawals with $207.7 million, one day after taking in $122 million.
- US spot Ether ETFs posted $160.9 million in outflows, their seventh straight losing session.
- Bitcoin traded near $82,700 on Thursday, down about 2% over 24 hours.
US spot Bitcoin exchange-traded funds saw $484.9 million in net outflows on Wednesday, according to data from Farside Investors.
The withdrawals reversed a $118.8 million net inflow the funds recorded on Tuesday.
It was the largest single day of outflows since June 25, when Bitcoin ETFs lost $691.7 million.
October Gains Erased for Bitcoin Funds
Before Wednesday, Bitcoin ETFs had brought in $321.6 million in net inflows over the first four trading sessions of October.
Wednesday’s outflows wiped out those gains in one day.
The funds now sit at roughly $163 million in net outflows for the month so far.
BlackRock’s iShares Bitcoin Trust led the withdrawals, with $207.7 million leaving the fund. That came one day after the fund took in $122 million in net inflows.
Fidelity’s Wise Origin Bitcoin Fund followed with $105.1 million in outflows.
The ARK 21Shares Bitcoin ETF recorded $101.7 million in withdrawals.
Together, those three funds accounted for about $414.5 million of the day’s total outflows.
Ether ETFs Extend Losing Streak
US spot Ether ETFs also saw money leave on Wednesday. The funds recorded $160.9 million in net outflows, according to Farside Investors.
That marked the seventh trading session in a row of outflows for Ether funds.
Since Sept. 29, Ether ETFs have lost about $569 million in total.
BlackRock’s iShares Ethereum Trust accounted for $116.1 million of Wednesday’s Ether fund withdrawals.
The Grayscale Ethereum Trust followed with $25.8 million in outflows.
Combined, US spot Bitcoin and Ether ETFs saw about $645.8 million in net outflows in a single day.
Bitcoin traded near $82,700 on Thursday, down about 2% over the previous 24 hours, according to CoinGecko.
