Bitcoin ETFs Record Largest Daily Outflow Since June

According to data from Farside Investors, BlackRock’s IBIT led the selling with $233.7 million in outflows, closely followed by Fidelity’s FBTC at $201 million and ARK 21Shares’ ARKB at $129.5 million. Together, these three issuers accounted for 87.7% of the day’s total redemptions. The scale of the sell-off eclipsed the $440.8 million gathered earlier in the week, leaving the funds with a net weekly deficit.

While cumulative net inflows since the January launch remain robust at over $57 billion, the October performance highlights a growing divergence among issuers. BlackRock’s IBIT managed to retain a positive balance for the month, drawing in over $932 million, even as other funds shed approximately $1.45 billion. The broader crypto market faced additional pressure as Ether ETFs also suffered, posting $155.7 million in daily losses and bringing their total October outflows to roughly $1.61 billion.

Market participants are now monitoring Bitcoin’s price action as it trades near $77,364, hovering below the $81,500 average purchase price estimated by Glassnode for ETF holdings. With daily turnover having previously slowed to yearly lows, the sudden surge in redemptions suggests a shift in investor sentiment as current market prices test the cost basis of institutional portfolios.