Bitcoin ETFs Witness First outflow After Nine Days of Gains
on October 10, Bitcoin ETFs faced a $4.5 million net outflow. This ended a nine-day streak of positive inflows that added over $5 billion to the market. The shift happened as Bitcoin’s price fell by 8%.
Despite this, the cumulative net inflows for all Bitcoin ETFs remain strong at $62.77 billion. Total assets stand at $158.96 billion. Not all ETFs followed the trend. BlackRock’s IBIT saw an inflow of $74.21 million.However,Bitwise’s BITB,Grayscale’s GBTC,and Fidelity’s FBTC experienced outflows.
The outflow marks the first negative day as October 1. ETFs had seen a sustained inflow period, with major inflows on October 6 and 7. The data suggests growing institutional caution despite price stabilization.
Bitcoin’s price dropped from $122,000 to $105,000 in 24 hours. It later recovered to $111,700. This price movement seems to have triggered profit-taking among institutional investors.
Performance varied across individual Bitcoin ETFs. While some saw inflows, others experienced redemptions. Several products reported zero net flows.
The previous day, October 9, had seen $197.68 million in inflows.The ETF outflows indicate institutional caution regarding the near-term price direction.
