$600 million quietly pulled out, but nobody panicked over Bitcoin ETFs
📈 进群看今日思路
Over the first five trading days of October, U.S. spot Bitcoin ETFs saw net outflows of $228.6 million. Outflows for October so far total about $615 million, with some estimates putting the figure close to $618 million.
BlackRock’s IBIT saw the fastest withdrawals, with about $165 million in net outflows in a week. On October 16 alone, $71.8 million was pulled out. Fidelity’s FBTC also saw $10.6 million leave that day. All told, IBIT accounted for more than 70% of this week’s outflows.
The real eye-opener was October 7, when net outflows hit $487.1 million in a single day 💥 That one day accounted for most of the month’s outflows.
That’s no small sum, but in a market worth more than a trillion dollars, it’s hardly a serious blow. Look at the other side of the ledger: these funds still hold $104.29 billion in total assets. This month’s outflows amount to less than 1% of that. Since their launch in January 2024, they’ve seen cumulative net inflows of about $56.88 billion and still hold around 1.276 million bitcoins—roughly 6% of the total supply.
Trading volume hasn’t collapsed either. There were several days in October when daily trading volume topped $2 billion. People are still in the market; it’s just the direction of the money that’s changed.
My take: this doesn’t look like institutions rushing for the exits. It looks more like profit-taking at elevated levels. Redemptions aren’t just numbers on a screen: issuers either have to sell Bitcoin or use cash, and the impact eventually shows up in the spot market. That’s why ETF flows often speak sooner than the price itself. So the key thing to watch isn’t the $600 million headline figure, but whether IBIT’s redemptions are slowing down or speeding up—and whether we’ll see another day of nearly $500 million in selling pressure like October 7 🦖
ETFs are the main gateway for institutions entering the market. When that gateway’s valve turns, prices often take a few days to respond. Bitcoin is currently hovering around $81,000, while Ethereum is fluctuating around $2,400. The message from the flow data is just one word: hesitation 📉
Do you think institutions are rebalancing, or is the market about to turn? Let’s talk in the comments 👀
I bring you the latest developments in the crypto market every day—not just what’s happening, but the logic and opportunities behind it 🚀
📈 进群看今日思路
Over the first five trading days of October, U.S. spot Bitcoin ETFs saw net outflows of $228.6 million. Outflows for October so far total about $615 million, with some estimates putting the figure close to $618 million.
BlackRock’s IBIT saw the fastest withdrawals, with about $165 million in net outflows in a week. On October 16 alone, $71.8 million was pulled out. Fidelity’s FBTC also saw $10.6 million leave that day. All told, IBIT accounted for more than 70% of this week’s outflows.
The real eye-opener was October 7, when net outflows hit $487.1 million in a single day 💥 That one day accounted for most of the month’s outflows.
That’s no small sum, but in a market worth more than a trillion dollars, it’s hardly a serious blow. Look at the other side of the ledger: these funds still hold $104.29 billion in total assets. This month’s outflows amount to less than 1% of that. Since their launch in January 2024, they’ve seen cumulative net inflows of about $56.88 billion and still hold around 1.276 million bitcoins—roughly 6% of the total supply.
Trading volume hasn’t collapsed either. There were several days in October when daily trading volume topped $2 billion. People are still in the market; it’s just the direction of the money that’s changed.
My take: this doesn’t look like institutions rushing for the exits. It looks more like profit-taking at elevated levels. Redemptions aren’t just numbers on a screen: issuers either have to sell Bitcoin or use cash, and the impact eventually shows up in the spot market. That’s why ETF flows often speak sooner than the price itself. So the key thing to watch isn’t the $600 million headline figure, but whether IBIT’s redemptions are slowing down or speeding up—and whether we’ll see another day of nearly $500 million in selling pressure like October 7 🦖
ETFs are the main gateway for institutions entering the market. When that gateway’s valve turns, prices often take a few days to respond. Bitcoin is currently hovering around $81,000, while Ethereum is fluctuating around $2,400. The message from the flow data is just one word: hesitation 📉
Do you think institutions are rebalancing, or is the market about to turn? Let’s talk in the comments 👀
I bring you the latest developments in the crypto market every day—not just what’s happening, but the logic and opportunities behind it 🚀