Key Takeaways
- • U.S. spot Bitcoin ETFs recorded $484.9 million in net outflows on Oct. 7, the largest single-day withdrawal since June 25, when the funds shed $691.7 million.
- • The outflow erased October's early gains, leaving the funds with roughly $163.3 million in net outflows month-to-date through Oct. 7, after $321.6 million of inflows over the first four sessions.
- • BlackRock's IBIT led redemptions at $207.7 million, followed by Fidelity's FBTC ($105.1 million) and ARK 21Shares' ARKB ($101.7 million).
- • Bitcoin traded near $82,700 and was approaching Glassnode's $81,700–$83,300 liquidation cluster, with large Binance bids reported near $81,000.
- • Ether ETFs lost $160.9 million, extending their outflow streak to seven consecutive U.S. trading sessions.
Summary
U.S. spot Bitcoin ETFs posted $484.9 million in net withdrawals on October 7, their largest daily outflow since June, as Bitcoin fell toward $82,700 and gave back its early-October gains. The reversal came one day after the funds attracted $118.8 million of inflows, including $122 million into BlackRock's iShares Bitcoin Trust (IBIT), according to Farside Investors data cited in the report. Wednesday's exit more than offset the $321.6 million accumulated across the first four U.S. trading sessions of October, leaving the complex with roughly $163.3 million in net outflows for the month through October 7. The shift follows a sharp cooling in ETF demand after stronger institutional buying in late September.
By fund, IBIT led withdrawals with $207.7 million, followed by Fidelity's FBTC at $105.1 million and ARK 21Shares' ARKB at $101.7 million. Bitwise's BITB lost a further $27.6 million, and Grayscale's GBTC recorded $39.3 million in redemptions. The October 7 outflow was the largest single-day withdrawal since June 25, when U.S. Bitcoin ETFs shed $691.7 million.
On the price side, Bitcoin traded near $82,700 after Wednesday's decline, placing it close to Glassnode's identified liquidation cluster between $81,700 and $83,300. According to Glassnode, Bitcoin trading volume remains unusually light, while large bids on Binance sit near $81,000. Additional coverage reported Bitcoin trading below $83,000 on Thursday as ETF withdrawals and macroeconomic headwinds weighed on demand, with some analysts pointing to $81,108 as key near-term support.
Ether ETFs also came under pressure, losing $160.9 million and extending their outflow streak to seven consecutive U.S. trading sessions. The persistence of outflows across both major asset classes places the near-term question of whether Bitcoin can hold the $82,000 level squarely on the demand picture from ETF flows, which has turned negative for October after a period of institutional accumulation.
By fund, IBIT led withdrawals with $207.7 million, followed by Fidelity's FBTC at $105.1 million and ARK 21Shares' ARKB at $101.7 million. Bitwise's BITB lost a further $27.6 million, and Grayscale's GBTC recorded $39.3 million in redemptions. The October 7 outflow was the largest single-day withdrawal since June 25, when U.S. Bitcoin ETFs shed $691.7 million.
On the price side, Bitcoin traded near $82,700 after Wednesday's decline, placing it close to Glassnode's identified liquidation cluster between $81,700 and $83,300. According to Glassnode, Bitcoin trading volume remains unusually light, while large bids on Binance sit near $81,000. Additional coverage reported Bitcoin trading below $83,000 on Thursday as ETF withdrawals and macroeconomic headwinds weighed on demand, with some analysts pointing to $81,108 as key near-term support.
Ether ETFs also came under pressure, losing $160.9 million and extending their outflow streak to seven consecutive U.S. trading sessions. The persistence of outflows across both major asset classes places the near-term question of whether Bitcoin can hold the $82,000 level squarely on the demand picture from ETF flows, which has turned negative for October after a period of institutional accumulation.
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