Bitcoin ETF Outflows Reach $61 Million as BitGet Exits Japanese Market
US spot Bitcoin ETFs experienced significant net outflows last week, totaling $61.53 million, according to SoSoValue. Fidelity's FBTC led the withdrawals with a weekly net outflow of $85.18 million, while Grayscale's GBTC trailed behind with $52.6275 million in outflows.
In contrast, BlackRock's IBIT recorded the largest weekly inflow at $86.9022 million, pushing its cumulative historical net inflows to $9.92 billion. The total net asset value of spot Bitcoin ETFs stands at $76.29 billion, with an ETF net asset ratio of 6.04% and cumulative historical net inflows reaching $51.32 billion.
In other news, BitGet, a Seychelles-registered cryptocurrency exchange offering copy trading and futures trading services, is withdrawing from the Japanese market due to increasing regulatory pressure. The exchange stopped accepting new registrations from users based in Japan and asked existing users identified as potential Japanese residents to complete Level 2 identity verification by November 1.
A fourth wave of a co-ordinated attack targeting Coldcard users has been flagged, with researchers linking it to over 380 BTC moved from hundreds of suspected victim addresses. This brings the total affected to 4,585 addresses across three confirmed waves.