$487M Out in a Day: Bitcoin ETFs Post Worst Outflow Since June
US spot bitcoin ETFs lost $487 million on Oct. 7, the most since June 25. IBIT shed $208 million, FBTC $105 million and ARKB $102 million as October turned red.
US spot bitcoin ETFs bled $487 million on Wednesday, Oct. 7, their largest single-day outflow since June 25, according to SoSoValue data cited by KuCoin News and TokenPost. BlackRock's iShares Bitcoin Trust (IBIT) led the exodus with $208 million, while Fidelity's FBTC lost $105 million.
Details
A fund-by-fund tally from trader Trader T, reported by Bloomingbit, puts the day at $484.9 million and shows the selling was broad: IBIT −$207.7 million, FBTC −$105.1 million, ARK and 21Shares' ARKB −$101.7 million, Grayscale's GBTC −$39.3 million, Bitwise's BITB −$27.6 million and VanEck's HODL −$3.5 million. No fund posted an inflow.
The reversal was sharp. Just a day earlier the funds took in $118.9 million, nearly all of it into IBIT (+$122 million), and had gathered $321.5 million over October's first four sessions, TFTC data show. Wednesday wiped that out, leaving the month roughly $163 million in the red.
Cumulative net inflows into US spot bitcoin ETFs since launch slipped to $57.33 billion, with IBIT alone at $65.7 billion. Combined assets stand at $107.4 billion, or 6.41% of bitcoin's market capitalization.
What it means for the market
The outflow coincided with bitcoin's slide to an October low. The price dipped below $83,000 on Wednesday after reports of US strike plans against Iran lifted oil, and the Fed minutes showed most officials expect another rate hike before year-end. When money leaves every issuer at once instead of rotating between them, it usually signals a broad pullback in risk appetite rather than a preference for one product.
Our data show bitcoin at about $83,060, down 1.4% over 24 hours and 2.1% over the week, with a 24-hour low of $82,230. For derivatives positioning and sentiment, see the daily dashboard.
