Bitcoin ETFs See $635M Outflow as October Turns Negative

Bitcoin ETFs See Significant Outflows, Erasing October Gains

US spot Bitcoin exchange-traded funds (ETFs) experienced substantial net outflows on Thursday, totaling $635 million. This significant withdrawal reversed earlier gains and pushed the month’s net flows into negative territory.

According to data from SoSoValue, Thursday’s outflows more than offset Wednesday’s inflows of $528 million, resulting in a net outflow of $175 million for October. This marks the largest single-day net outflow since June 25, when Bitcoin ETFs saw outflows of $696 million. The recent withdrawals ended a three-day streak of inflows that had attracted $1.08 billion.

Despite the recent downturn, Bitcoin ETFs maintained weekly net inflows of $443 million. This rebound follows two consecutive weeks of outflows.

Bitcoin’s price fluctuated between $80,996 and $82,551 on Thursday, a decrease from Wednesday’s intraday high of $84,777. At the time of publication, BTC was trading around $81,783, reflecting a roughly 1% decline over the preceding 24 hours, according to CoinGecko.

Altcoin ETFs Also Face Selling Pressure

The trend of negative flows extended to other cryptocurrency ETFs on Thursday. Ether ETFs recorded net outflows of approximately $111 million, while Solana ETFs saw outflows of around $9 million, and Hyperliquid (HYPE) ETFs experienced outflows of about $8 million. XRP ETFs were an exception, attracting inflows of approximately $3.6 million.