Spot Bitcoin ETFs shed $485 million, erasing October inflows

• US spot bitcoin ETFs recorded $484.9 million in net outflows on Oct. 7, the largest daily withdrawal since June 25.
• The print erased $321.6 million of early-October inflows, leaving the month about $163 million in the red.
• BlackRock’s IBIT led with $207.7 million out, while ether ETFs lost $160.9 million in a seventh straight outflow session.

US spot bitcoin exchange-traded funds recorded their largest daily outflow since late June on Wednesday, reversing an early-October inflow streak as prices stayed under pressure from energy-market stress.

Investors pulled a net $484.9 million from the products on Oct. 7, according to Farside Investors. That was the biggest single-day withdrawal since June 25, when the funds lost $691.7 million, Cointelegraph reported from the same dataset, and it fully erased the $321.6 million in net inflows logged over October’s first four trading sessions. The month is now about $163 million negative.

BlackRock’s iShares Bitcoin Trust (IBIT) led the withdrawals with $207.7 million, a sharp reversal from the $122 million it took in on Tuesday, Farside data show. Fidelity’s FBTC shed $105.1 million and ARK 21Shares’ ARKB lost $101.7 million. Grayscale’s GBTC and Bitwise’s BITB also posted net outflows, of $39.3 million and $27.6 million.

The move landed a day after the funds had attracted $118.8 million, their fourth positive session in five. Spot demand had still been a support into the selloff: CoinDesk reported that US bitcoin ETFs took in about $119 million on Tuesday even as bitcoin slipped below $84,000.

Ether products fared no better. US spot ether ETFs recorded $160.9 million in net outflows on Oct. 7, a seventh consecutive negative session, according to Farside Investors. BlackRock’s ETHA accounted for $116.1 million of that total, with Grayscale’s ETHE contributing $25.8 million. Citing the same flow set, Cointelegraph said ether funds have shed roughly $569 million since Sept. 29.

Price action remained soft into Thursday. Bitcoin traded near $82,700, down about 2% over the prior 24 hours, Cointelegraph reported, citing CoinGecko. Earlier in the week, CoinDesk said bitcoin fell below $84,000 after attacks on tankers in the Strait of Hormuz pushed Brent crude above $101 a barrel and lifted Treasury yields and the dollar. Crypto liquidations reached $547 million in that move.

For traders, the flow print is the cleaner signal. A net outflow requires authorized participants to redeem shares, which typically means the issuer sells spot bitcoin. Wednesday’s redemption wave, concentrated in the three largest products, points to institutions cutting exposure rather than rotating between funds. One-day prints can reverse — June 25 was larger — but the swing from Tuesday’s inflow to Wednesday’s $484.9 million exit shows how quickly ETF demand can flip when oil and yields rise.