Key Takeaways
- • U.S. bitcoin ETFs lost a further $244.13 million on Thursday, October 8, following heavy Wednesday redemptions. Combined bitcoin and ether ETF outflows reached roughly $965 million over two sessions.
- • Fidelity's FBTC accounted for most of the bitcoin selling, shedding $197.09 million. Ark and 21Shares' ARKB lost $20.29 million, and Bitwise's BITB lost $17.71 million.
- • Ether ETFs lost $72.54 million on Thursday, extending their redemption streak to eight consecutive sessions. BlackRock's ETHA accounted for $71.12 million of the outflow.
- • Bitcoin ETF net assets fell to $104.91 billion, while trading value rose to $3.81 billion, a pattern consistent with active de-risking by institutional holders.
- • Bitcoin was down more than 4% over the prior week and trading below $82,800 at the time of reporting.
Summary
U.S. spot bitcoin exchange-traded funds recorded another day of net redemptions on Thursday, October 8, with outflows of $244.13 million, according to news.bitcoin.com. The selling followed a heavy withdrawal on Wednesday, and the two sessions together produced roughly $965 million in combined outflows across bitcoin and ether ETFs.
Fidelity's FBTC was the main source of pressure, losing $197.09 million on the day. Other notable redemptions included Ark and 21Shares' ARKB ($20.29 million), Bitwise's BITB ($17.71 million), and Grayscale's GBTC ($8.20 million). BlackRock's IBIT slipped $5.54 million. Franklin Templeton's EZBC was the only bitcoin fund to take in new assets, attracting $4.71 million. Aggregate bitcoin ETF net assets fell to $104.91 billion, while trading value across the funds climbed to $3.81 billion. Analysts cited in the report view the combination of higher turnover and persistent redemptions as evidence of active de-risking, a shift from the accumulation seen in September toward a more defensive institutional posture.
Ether products faced a parallel sell-off. Ether ETFs shed $72.54 million on Thursday, marking the eighth straight day of net redemptions. BlackRock's ETHA accounted for most of the exit at $71.12 million, and Grayscale's ETHE also posted outflows, though the figure was truncated in the available text.
Market prices reflected the flows. Bitcoin was down more than 4% over the past week and traded below $82,800 at the time of writing. The report noted that markets will monitor whether inflows into XRP and NEAR-linked products can persist while broader crypto demand weakens.
Fidelity's FBTC was the main source of pressure, losing $197.09 million on the day. Other notable redemptions included Ark and 21Shares' ARKB ($20.29 million), Bitwise's BITB ($17.71 million), and Grayscale's GBTC ($8.20 million). BlackRock's IBIT slipped $5.54 million. Franklin Templeton's EZBC was the only bitcoin fund to take in new assets, attracting $4.71 million. Aggregate bitcoin ETF net assets fell to $104.91 billion, while trading value across the funds climbed to $3.81 billion. Analysts cited in the report view the combination of higher turnover and persistent redemptions as evidence of active de-risking, a shift from the accumulation seen in September toward a more defensive institutional posture.
Ether products faced a parallel sell-off. Ether ETFs shed $72.54 million on Thursday, marking the eighth straight day of net redemptions. BlackRock's ETHA accounted for most of the exit at $71.12 million, and Grayscale's ETHE also posted outflows, though the figure was truncated in the available text.
Market prices reflected the flows. Bitcoin was down more than 4% over the past week and traded below $82,800 at the time of writing. The report noted that markets will monitor whether inflows into XRP and NEAR-linked products can persist while broader crypto demand weakens.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.