Bitcoin ETFs Face $89.8M Outflows as BTC Dips Below $86K
US spot Bitcoin ETFs saw a reversal on Oct. 5, with investors pulling $89.8 million from the funds. This shift came just days after the products attracted $189.9 million in inflows on Oct. 2. Despite the recent withdrawals, net flows over the past five trading sessions remained positive, totaling roughly $120 million.
ARK 21Shares' ARKB experienced the largest outflow, losing $85.2 million, followed by Fidelity's FBTC with $74.5 million in withdrawals. BlackRock's IBIT was the only fund to record significant inflows, attracting $69.9 million. The remaining spot Bitcoin ETFs reported no net flows for the session.
Bitcoin also faced modest selling pressure, trading above $86,000 during parts of Oct. 5 before dropping toward the mid $85,000 range. Early on Oct. 6, Bitcoin was trading around $86,010, down roughly 0.15% over 24 hours. The decline coincided with the return of ETF outflows, along with factors like a stronger US dollar, elevated Treasury yields, and geopolitical uncertainty.
The $89.8 million withdrawal is relatively modest compared to the sector's cumulative inflows. However, the concentration of selling in ARKB and FBTC will put the next few trading sessions under scrutiny. A return to sustained inflows could support Bitcoin, while consecutive outflow sessions could add pressure as BTC attempts to regain momentum above $86,000.