Key Takeaways
- • U.S. spot Bitcoin ETFs recorded $635.6 million in outflows on October 22, 2026, reversing $524.8 million in inflows the previous day, according to Pluang.
- • Further withdrawals of $137.9 million on October 23 still left the weekly net inflow for October 19-23 positive at $301.2 million.
- • BlackRock's IBIT and Fidelity's FBTC accounted for most of the outflows during the period.
- • Bitcoin traded around $80,000 to $82,000 during the period, and the SEC's approval of in-kind redemptions since July 2025 means ETF withdrawals do not always translate into immediate Bitcoin sales.
- • Pluang's October 25 snapshot showed 41 of 50 major cryptocurrencies falling, with Polkadot (DOT) down 4.17% and Aave (AAVE) down 4.01%.
Summary
U.S. spot Bitcoin exchange-traded funds experienced a sharp reversal in late October 2026. According to Pluang, the funds took in $524.8 million on October 21, then saw $635.6 million in outflows on October 22 and a further $137.9 million withdrawn on October 23. Despite these redemptions, the net inflow for the week of October 19 to 23 remained positive at $301.2 million, indicating that the selling was concentrated in a short window rather than reflecting a broad retreat from the asset class.
Major products BlackRock's IBIT and Fidelity's FBTC accounted for most of the outflows, per the report. Bitcoin traded in a range of roughly $80,000 to $82,000 over this period. Pluang notes that since the SEC approved in-kind Bitcoin redemptions in July 2025, ETF withdrawals do not always trigger immediate Bitcoin sales, which complicates any direct read-through from fund flows to spot prices.
Broader crypto markets were also weak on October 25, 2026. Pluang's market snapshot at 16:21 WIB showed 6 of 50 major cryptocurrencies rising and 41 falling. Polkadot (DOT) traded at Rp18,332, down 4.17%, and Aave (AAVE) at Rp2,444,111 was down 4.01%. Pluang's own order book showed sell-side dominance in several names. Investors are advised to monitor upcoming fund flow data and Bitcoin price action to gauge whether sentiment stabilizes.
Major products BlackRock's IBIT and Fidelity's FBTC accounted for most of the outflows, per the report. Bitcoin traded in a range of roughly $80,000 to $82,000 over this period. Pluang notes that since the SEC approved in-kind Bitcoin redemptions in July 2025, ETF withdrawals do not always trigger immediate Bitcoin sales, which complicates any direct read-through from fund flows to spot prices.
Broader crypto markets were also weak on October 25, 2026. Pluang's market snapshot at 16:21 WIB showed 6 of 50 major cryptocurrencies rising and 41 falling. Polkadot (DOT) traded at Rp18,332, down 4.17%, and Aave (AAVE) at Rp2,444,111 was down 4.01%. Pluang's own order book showed sell-side dominance in several names. Investors are advised to monitor upcoming fund flow data and Bitcoin price action to gauge whether sentiment stabilizes.
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