Add as a preferred source on GoogleUS Bitcoin ETFs Lose $485 Million, Erasing October Gains
The Wednesday withdrawals were the largest since June 25 and pushed October’s net flows to about $163 million in outflows.
US spot Bitcoin ETFs recorded $485 million in net outflows Wednesday, Oct. 7, wiping out their early-October gains and pushing the month’s combined flows into negative territory.
The withdrawals were the largest daily outflow since June 25, when investors pulled $691.7 million from the funds. October’s first four trading sessions had produced $321.6 million in net inflows, leaving the funds with about $163 million in net outflows after Wednesday’s reversal.
BlackRock’s iShares Bitcoin Trust posted the largest withdrawal at $207.7 million. Fidelity’s FBTC lost $105.1 million, while ARK 21Shares’ ARKB recorded $101.7 million in outflows. Bitwise’s BITB lost $27.6 million, and Grayscale’s GBTC saw $39.3 million leave the fund.
The reversal came one session after US spot Bitcoin ETFs attracted $118.8 million on Oct. 6. Bitcoin traded near $82,700 Thursday, down about 2% over the previous 24 hours.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.