Key facts
- U.S. spot Bitcoin ETFs have seen outflows totaling $910 million over the past two weeks.
- Wednesday saw the largest single-day outflow of $261.4 million.
- October outflows for Bitcoin ETFs have reached approximately $615 million.
- Cumulative net inflows since their launch in January 2024 stand at $57.3 billion.
U.S. spot Bitcoin exchange-traded funds experienced significant outflows for the second consecutive week, shedding $228.6 million in the past seven days and $681.1 million the week prior. This trend has pushed the total outflows for October to approximately $615 million. The selling pressure intensified following hotter-than-expected U.S. inflation data, which revived concerns about potential Federal Reserve interest rate hikes. Bitcoin briefly fell below $80,000 on Thursday, leading to liquidations of leveraged crypto positions. Despite these recent outflows, cumulative net inflows since the ETFs' launch in January 2024 remain substantial at $57.3 billion.