BlackRock’s spot Bitcoin ETF IBIT saw about $405.3 million in net outflows on Monday—the biggest single-day outflow since June.
U.S. spot Bitcoin ETFs saw roughly $398.6 million in combined outflows. Fidelity’s FBTC bucked the trend with a modest net inflow of about $6.7 million, providing a slight offset. According to Farside data, IBIT’s last larger single-day outflow was on June 26. October had already seen net outflows of about $515 million, and year to date, it is still down roughly $38 million.
The outflows came amid volatility following the theft of about $6.3 billion from Binance. Spot Ether ETFs also saw around $140 million in outflows on Monday, marking six consecutive days of outflows. Redemptions mean clients are reducing their positions; they don’t mean the asset manager itself is selling off. When uncertainty rises, it’s common to scale back positions first. #BTC #IBIT
U.S. spot Bitcoin ETFs saw roughly $398.6 million in combined outflows. Fidelity’s FBTC bucked the trend with a modest net inflow of about $6.7 million, providing a slight offset. According to Farside data, IBIT’s last larger single-day outflow was on June 26. October had already seen net outflows of about $515 million, and year to date, it is still down roughly $38 million.
The outflows came amid volatility following the theft of about $6.3 billion from Binance. Spot Ether ETFs also saw around $140 million in outflows on Monday, marking six consecutive days of outflows. Redemptions mean clients are reducing their positions; they don’t mean the asset manager itself is selling off. When uncertainty rises, it’s common to scale back positions first. #BTC #IBIT
