U.S. spot Bitcoin ETFs recorded $643.2 million in net outflows on Oct. 30, their largest daily withdrawal since June. The exit erased four sessions of inflows and left October in net outflows, while BlackRock's IBIT kept a positive monthly balance.
U.S. spot Bitcoin ETFs recorded $643.2 million in net outflows on Oct. 30, the largest daily withdrawal since June. The selling wiped out four consecutive sessions of inflows.
BlackRock, Fidelity and ARK 21Shares lead the exit
BlackRock's IBIT led the withdrawals with $233.7 million, followed by Fidelity and ARK 21Shares. According to Farside Investors, Fidelity's FBTC lost $201 million and ARK 21Shares' ARKB shed $129.5 million.
Together, the three issuers accounted for $564.2 million, or roughly 87.7%, of the day's net withdrawals. None of the other seven Bitcoin products in the table recorded a positive flow.
Friday erases the week's buying
Before the reversal, the funds had collected $440.8 million across Oct. 26-29. Friday's withdrawals then exceeded that four-day intake by $202.4 million, which left Oct. 26-30 with $202.4 million in net outflows.
BlackRock still finished the five-session period with a positive balance. IBIT held $176.9 million in weekly inflows after Friday's redemptions, while Fidelity ended with a $166 million weekly outflow.
The latest exit narrowly topped the $635.6 million withdrawn on Oct. 22. Farside's historical table shows a larger $691.7 million withdrawal on June 25.
October closes in the red
Adding Farside's rounded daily totals puts October's Bitcoin ETF net outflow at $515.9 million. Before the final session, the month had still been positive by $127.3 million.
Over the same period, IBIT attracted $932.1 million, while the remaining Bitcoin funds collectively lost approximately $1.45 billion. Since their January 2024 debut, U.S. Bitcoin ETFs have accumulated $57.048 billion in net inflows, according to Farside.
Bitcoin trades below Glassnode's ETF cost estimate
Bitcoin traded near $77,364 on Oct. 31, according to CoinGecko, after reaching a 24-hour low of $76,337.84.
In its Oct. 28 report, Glassnode estimated the average purchase price of Bitcoin held by U.S. spot ETFs at $81,500. The firm put the average cost basis of active investors, its True Market Mean measure, at $77,900.
Source: crypto.news
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