US spot Bitcoin exchange-traded funds (ETFs) saw a significant reversal on Wednesday, with $484.9 million in net outflows, the largest daily withdrawal since June 25. This marked a sharp contrast to Tuesday’s $118.8 million net inflow, erasing the $321.6 million in gains accumulated over the first four trading days of October. As a result, Bitcoin ETFs now show approximately $163 million in net outflows for the month.
Leading the withdrawals was BlackRock’s iShares Bitcoin Trust (IBIT) with $207.7 million in outflows, followed by Fidelity’s FBTC at $105.1 million and ARK 21Shares’ ARKB at $101.7 million. Notably, IBIT had recorded $122 million in net inflows the previous day. Bitcoin’s price hovered near $82,700 on Thursday, reflecting a roughly 2% decline over the prior 24 hours.
Meanwhile, US spot Ether ETFs continued their losing streak, with $160.9 million in net outflows on Wednesday, extending a seven-day run of withdrawals. Since September 29, Ether funds have shed approximately $569 million. BlackRock’s iShares Ethereum Trust (ETHA) accounted for $116.1 million of Wednesday’s outflows, while Grayscale’s Ethereum Trust (ETHE) saw $25.8 million in withdrawals.