Spot Bitcoin ETFs Post $635.6M Outflow, Largest Since June

U.S. spot Bitcoin exchange-traded funds recorded $635.6 million in net outflows on Thursday, October 22, the largest single-day withdrawal since June, according to The Block. BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $254.1 million of the total.

What Happened

The outflows more than reversed net inflows of $528.4 million from the previous session, The Block reported, using data it compiled from fund reports. Fidelity’s FBTC saw $217.5 million in withdrawals. ARK Invest and 21Shares’ ARKB recorded $109.4 million in outflows. Grayscale’s GBTC and Bitwise’s BITB also posted net redemptions. Morgan Stanley’s MSBT was the only product to record an inflow, at $2.3 million. The remaining funds showed zero net flow that day.

Cointelegraph, citing SoSoValue, put the day’s net outflow at $635 million and called it the largest single-day figure since June 25, when the funds lost $696 million. The outlet said the withdrawals ended a three-day inflow streak of about $1.08 billion, more than offset Wednesday’s roughly $528 million inflow, and left October with about $175 million in net outflows. Weekly flows were still positive at about $443 million after the session.

Decrypt reported the $635.6 million total and said it removed a large share of roughly $1.07 billion taken in over the prior three sessions. After October inflows had reached about $460 million through Wednesday, the month stood at a net loss of about $176 million. Decrypt put cumulative net inflows since the January 2024 launch near $57.8 billion, with total net assets around $100.2 billion.

Why It Matters

Spot Bitcoin ETFs hold the cryptocurrency and publish daily creation and redemption figures, so the data are widely used as one gauge of demand from institutions and advisers. A single session of this size stands out against recent daily totals, yet it remains small next to assets that reports still place above $100 billion. Redemptions reflect trading in ETF shares; they do not by themselves set Bitcoin’s market price.

The flow reversal lined up with a softer Bitcoin price. Cointelegraph said Bitcoin traded between about $80,996 and $82,551 on Thursday, below the prior day’s intraday high near $84,777, and was near $81,783 when that article was published, according to CoinGecko figures it cited. Decrypt later noted Bitcoin near $81,460. Ether ETFs also recorded outflows of about $111 million that day, Cointelegraph reported, with smaller withdrawals from Solana products.

Coverage linked the session to weaker risk markets more broadly. Decrypt described pressure on AI-related stocks and a rise in oil prices on the same day. Those conditions can affect appetite for crypto-linked funds, but the flow reports do not isolate a single cause for the withdrawals.

What's Next

Later daily updates from trackers such as Farside Investors and SoSoValue will show whether Thursday’s exits continued or reversed. As of reports published on October 23, the week’s net flows for the Bitcoin ETFs were still positive. The Federal Reserve’s next meeting is scheduled for October 27-28, a date noted in some market coverage as a near-term item on the calendar. Flow numbers describe past share activity only. They are not a price forecast and do not constitute investment advice.

Sources

• The Block — Bitcoin ETFs swing back to net outflows as $636 million in withdrawals erase previous day's inflows
• Cointelegraph — Bitcoin ETFs Lose $635M as October Flows Turn Negative
• Decrypt — Bitcoin ETFs Bleed $636 Million as October Turns Red Again