# Bitcoin ETF Outflows Reach $760 Million as Large-Holder Balances Rise By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/32855 Published: 2026-10-15T23:27:08.000Z Updated: 2026-10-15T23:27:08.000Z Section: Investing > Large-holder wallets excluding exchanges and mining pools held 3.03 million BTC, their highest balance since Nov. 21, 2025. Bitcoin’s market indicators diverged in early October, with U.S. spot Bitcoin exchange-traded funds posting about $760 million in net outflows even as a defined group of large-holder wallets reached its highest balance since November 2025. The fund-flow period covered Oct. 7 through Oct. 12. Net outflows mean redemptions exceeded new fund creations during that span. The withdrawals followed nearly $3 billion in inflows from Sept. 21 through Oct. 6, the fastest pace of ETF buying since November 2025. Large-holder wallets that exclude exchange and mining-pool addresses held 3.03 million BTC, the highest balance since Nov. 21, 2025. Monthly growth in that balance was at its fastest since Feb. 11, 2026. A [previous account of the 3.03 million BTC balance]() coincided with positive U.S. spot Bitcoin ETF flows. The measures track different activity. ETF flows are measured in dollars, while the wallet cohort is counted in BTC. The wallet measure excludes exchange and mining-pool addresses; the fund-flow measure tracks aggregate creations and redemptions. Those figures cannot be directly subtracted to estimate transfers between funds and wallets, and they do not show that large holders received the same coins that left the funds. Estimated cost bases offer another view of the market. U.S. spot Bitcoin ETF holdings had an estimated average cost basis near $81,500. Bitcoin fell below that estimate on Oct. 8 and Oct. 13, but closed above it on both days. Coins acquired six to 12 months earlier had an estimated cost basis near $88,000. The estimate for coins bought one to two years earlier was about $100,000. These estimates refer to separate groups of holdings, not one purchase price shared by all Bitcoin owners. Selling by the one-to-two-year cohort picked up during the early-October rally. Realized losses among long-term holders were about 85% below their Aug. 12 peak in daily on-chain measures through Oct. 13. The ETF-flow figures run through Oct. 12, so the indicators have slightly different measurement cutoffs. Frederik Theissen, author of the report, said, “A return to steady ETF inflows would be the clearest sign that demand is back.” ## Links in this article - [previous account of the 3.03 million BTC balance](https://www.tokenpost.com/news/investing/31442)