US spot Bitcoin exchange-traded funds recorded $484.9 million in net outflows on Wednesday, reversing the $118.8 million net inflow seen on Tuesday. According to data from Farside Investors, these withdrawals marked the largest single-day loss since June 25, when the funds lost $691.7 million.
The Wednesday withdrawals erased the $321.6 million in net inflows accumulated during October's first four trading sessions. This shift left Bitcoin ETFs with approximately $163 million in net outflows for the month.
BlackRock’s iShares Bitcoin Trust (IBIT) led the Wednesday withdrawals by shedding $207.7 million. Fidelity’s FBTC followed with $105.1 million in outflows, while ARK 21Shares’ ARKB saw $101.7 million leave the fund. The day prior, BlackRock's IBIT had recorded $122 million in net inflows. Following these market movements, Bitcoin traded near $82,700 on Thursday, marking a decrease of about 2% over the preceding 24 hours according to CoinGecko.
In the market for other digital asset products, US spot Ether ETFs experienced $160.9 million in net outflows on Wednesday, extending their consecutive losing streak to seven trading sessions. Farside Investors reported that Ether funds have lost approximately $569 million since Sept. 29. BlackRock’s iShares Ethereum Trust (ETHA) accounted for $116.1 million of Wednesday's Ether withdrawals, while Grayscale’s Ethereum Trust (ETHE) followed with $25.8 million in outflows.
