📉 Institutional fund flows have sharply reversed! U.S. spot #BTC ETFs recorded $484.9 million in net outflows on Wednesday, reversing the previous day’s $118.8 million in net inflows and marking the largest redemptions since June 25. The outflows wiped out the net inflows from the first four days of October, pushing the month’s overall flows to about $163 million in net outflows. BlackRock’s IBIT led the redemptions with $207.7 million, followed by FBTC and ARKB. Meanwhile, spot ETH ETFs also struggled, posting $160.9 million in net outflows on Wednesday and extending their outflow streak to seven consecutive days. Cumulative outflows since September 29 have reached $569 million. Weighed down by these fund flows, BTC is now trading near $82,700, down about 2% over the past 24 hours.