Bitcoin ETFs post largest daily outflow since June

U.S. spot Bitcoin ETFs saw $484.9 million in net outflows Wednesday, the largest one-day withdrawal since June 25, leaving the funds with about $163 million in net outflows for October.

U.S. spot Bitcoin exchange-traded funds recorded $484.9 million in net outflows Wednesday, according to Farside Investors. The withdrawals were the largest since June 25, when the funds lost $691.7 million.

The outflows offset the $321.6 million in net inflows recorded during October’s first four trading sessions, leaving the funds with about $163 million in net outflows for the month. Tuesday had brought $118.8 million in net inflows.

BlackRock’s iShares Bitcoin Trust led Wednesday’s outflows with $207.7 million. Fidelity’s Wise Origin Bitcoin Fund followed with $105.1 million, while the ARK 21Shares Bitcoin ETF recorded $101.7 million in withdrawals. BlackRock’s fund had received $122 million in net inflows Tuesday.

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

U.S. spot Ether ETFs recorded $160.9 million in net outflows Wednesday, extending their outflow streak to seven consecutive trading sessions. Ether funds have lost about $569 million since Sept. 29.

BlackRock’s iShares Ethereum Trust accounted for $116.1 million of Wednesday’s Ether ETF outflows. Grayscale’s Ethereum Trust recorded $25.8 million in withdrawals, according to Farside Investors.

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