US Bitcoin ETFs See $485 Million Outflow, Largest Since June

TLDR

• US spot Bitcoin ETFs recorded $484.9 million in net outflows on Wednesday, the largest since June 25.
• The outflows erased $321.6 million in October inflows, leaving the funds about $163 million in the red for the month.
• BlackRock’s iShares Bitcoin Trust led withdrawals with $207.7 million, one day after taking in $122 million.
• US spot Ether ETFs posted $160.9 million in outflows, their seventh straight losing session.
• Bitcoin traded near $82,700 on Thursday, down about 2% over 24 hours.

US spot Bitcoin exchange-traded funds saw $484.9 million in net outflows on Wednesday, according to data from Farside Investors.

The withdrawals reversed a $118.8 million net inflow the funds recorded on Tuesday.

It was the largest single day of outflows since June 25, when Bitcoin ETFs lost $691.7 million.

October Gains Erased for Bitcoin Funds

Before Wednesday, Bitcoin ETFs had brought in $321.6 million in net inflows over the first four trading sessions of October.

Wednesday’s outflows wiped out those gains in one day.

The funds now sit at roughly $163 million in net outflows for the month so far.

BlackRock’s iShares Bitcoin Trust led the withdrawals, with $207.7 million leaving the fund. That came one day after the fund took in $122 million in net inflows.

Fidelity’s Wise Origin Bitcoin Fund followed with $105.1 million in outflows.

The ARK 21Shares Bitcoin ETF recorded $101.7 million in withdrawals.

Together, those three funds accounted for about $414.5 million of the day’s total outflows.

Ether ETFs Extend Losing Streak

US spot Ether ETFs also saw money leave on Wednesday. The funds recorded $160.9 million in net outflows, according to Farside Investors.

That marked the seventh trading session in a row of outflows for Ether funds.

Since Sept. 29, Ether ETFs have lost about $569 million in total.

BlackRock’s iShares Ethereum Trust accounted for $116.1 million of Wednesday’s Ether fund withdrawals.

The Grayscale Ethereum Trust followed with $25.8 million in outflows.

Combined, US spot Bitcoin and Ether ETFs saw about $645.8 million in net outflows in a single day.

Bitcoin traded near $82,700 on Thursday, down about 2% over the previous 24 hours, according to CoinGecko.

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