US Spot Bitcoin ETFs Record $484.9 Million Outflow, Largest Since June
Key Takeaways
- •US spot Bitcoin ETFs recorded $484.9 million in net outflows on Wednesday, the largest daily withdrawal since June 25.
- •BlackRock’s iShares Bitcoin Trust had $207.7 million withdrawn, while Fidelity and ARK 21Shares recorded $105.1 million and $101.7 million in outflows, respectively.
- •The Bitcoin ETF withdrawals erased the $321.6 million accumulated inflow from October’s first four trading sessions, leaving the month with about $163 million in net outflows.
- •US spot Ether ETFs lost $160.9 million, marking their seventh consecutive session of net outflows and bringing cumulative withdrawals since Sept. 29 to approximately $569 million.
- •Combined US spot Bitcoin and Ether ETFs registered about $645.8 million in net outflows during Wednesday’s session.
US spot Bitcoin exchange-traded funds recorded $484.9 million in net outflows on Wednesday, according to data from Farside Investors. It was the largest single-day outflow since June 25, when the funds lost $691.7 million. The figures track the daily net difference between creations and redemptions across the US-listed spot Bitcoin funds, a group that began trading in January 2024 and whose flow data is widely followed as a gauge of investor demand for bitcoin exposure through traditional brokerage accounts.
Wednesday’s withdrawals reversed the $118.8 million net inflow recorded by the funds on Tuesday. They also erased the $321.6 million in net inflows accumulated during the first four trading sessions of October, leaving the funds with roughly $163 million in net outflows for the month so far.
BlackRock’s iShares Bitcoin Trust recorded the largest withdrawals, with $207.7 million leaving the fund. The outflow came one day after the fund received $122 million in net inflows.
Fidelity’s Wise Origin Bitcoin Fund followed with $105.1 million in outflows, while the ARK 21Shares Bitcoin ETF recorded $101.7 million in withdrawals. Together, the three funds accounted for approximately $414.5 million of the day’s total Bitcoin ETF outflows, with the remaining roughly $70 million spread across the rest of the group.
Ether ETFs Record Seventh Consecutive Outflow
US spot Ether ETFs, which launched in July 2024, also posted net outflows on Wednesday. The funds lost $160.9 million, marking their seventh consecutive trading session of outflows, according to Farside Investors.
Since Sept. 29, Ether ETFs have recorded approximately $569 million in cumulative outflows. BlackRock’s iShares Ethereum Trust accounted for $116.1 million of Wednesday’s withdrawals, followed by the Grayscale Ethereum Trust with $25.8 million.
Combined, US spot Bitcoin and Ether ETFs recorded approximately $645.8 million in net outflows during the session. Upcoming daily flow figures will show whether Wednesday’s Bitcoin ETF withdrawal stands as a single-session reversal or October’s net-outflow tally widens, and whether the Ether funds’ streak ends at seven sessions.
Bitcoin traded near $82,700 on Thursday, down about 2% over the previous 24 hours, according to CoinGecko.
Source: Blockonomi.
