U.S. Spot Bitcoin ETFs See $729 Million in Two-Day Outflows

U.S. spot Bitcoin (BTC) ETFs recorded $729.0 million in combined net outflows over the Oct. 7-8 trading sessions as Bitcoin fell below $82,000, pushing October’s cumulative fund flow into negative territory.

The ETFs saw $484.9 million in net withdrawals on Oct. 7, followed by another $244.1 million on Oct. 8. Fidelity’s Wise Origin Bitcoin Fund accounted for $197.1 million of Thursday’s outflows, while BlackRock’s iShares Bitcoin Trust recorded a $5.5 million withdrawal.

Bitcoin’s cumulative ETF net flow for October stood at negative $407.4 million through the Oct. 8 U.S. session. The cryptocurrency closed at approximately $81,686 on Oct. 8, down from roughly $83,282 the previous day.

U.S. spot Ether (ETH) ETFs also recorded net outflows of $72.5 million on Oct. 8, extending their losing streak to eight trading sessions. Bitcoin and Ether ETFs together recorded approximately $986.3 million in net withdrawals from Oct. 1 through Oct. 8.

The figures show money entering and leaving the funds but do not reveal the investors’ category.