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US Bitcoin ETFs see $485M outflows, largest since June

Withdrawals reversed Tuesday’s $118.8M inflow and left Bitcoin ETFs with about $163M in net outflows for October.

Reported · Written up by our desk · Market Structure

Cointelegraph reports that US spot Bitcoin exchange-traded funds recorded $484.9 million in net outflows on Wednesday, reversing Tuesday’s $118.8 million net inflow.

The $485 million withdrawals were the largest since June 25, when the funds lost $691.7 million, according to Farside Investors as cited by Cointelegraph.

Cointelegraph adds that Wednesday’s outflows wiped out the $321.6 million net inflows from the first four trading sessions in October, bringing total month-to-date net outflows to approximately $163 million.

BlackRock’s iShares Bitcoin Trust (IBIT) led the withdrawals with $207.7 million, followed by Fidelity’s FBTC with $105.1 million, while Ether funds logged a seventh straight outflow session.

Latest closeBitcoin $81,906.63 ▼1.4%

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