U.S. bitcoin ETFs experienced $635.49 million in net outflows on Thursday, marking the largest single-day withdrawal since June 25. The outflow reversed a three-session buying streak that had attracted $1.08 billion, erasing nearly 60% of those gains.
Blackrock's IBIT and Fidelity's FBTC led the selling, with withdrawals of $254.05 million and $217.46 million respectively. These two funds accounted for approximately 74% of Thursday's total outflows. Ark and 21Shares' ARKB withdrew $109.43 million, while Grayscale's GBTC shed $29.53 million and Bitwise's BITB posted a $27.35 million exit. Morgan Stanley's MSBT provided the only inflow at $2.33 million.
The reversal highlighted the fragility of recent institutional positioning. Blackrock's IBIT and Fidelity's FBTC had attracted a combined $447.70 million on Wednesday, only to lose $471.51 million the following day. Bitcoin's price fell below $81,000 on Thursday after approaching $85,000 on Wednesday, suggesting investor conviction remains highly sensitive to price movements and broader market sentiment.
Despite Thursday's decline, bitcoin ETFs maintained a positive weekly position of $442.67 million. However, month-to-date flows have turned negative at a $174.50 million deficit. Trading volume reached $2.56 billion across the funds, while net assets fell by nearly $5 billion to $104.71 billion.
Ether ETFs followed a similar pattern, with a $14.96 million inflow on Wednesday reversed by a $110.50 million withdrawal on Thursday. Blackrock's ETHA led ether outflows with $75.45 million, while Fidelity's FETH attracted $2.37 million. The quick reversal underscored ether's weaker institutional adoption throughout October.
Other altcoins showed mixed performance. Zcash attracted $14.23 million through Grayscale's ZCSH for a second consecutive inflow, bringing its two-day total to approximately $29.4 million. XRP ETFs added $3.55 million through Franklin's XRPZ, while Solana's brief recovery disappeared, with the category losing $8.51 million on Thursday after ending a 12-session outflow streak the previous day.
