Bitcoin ETFs See $89.8 Million Outflow as BTC Dips Below $86K
US spot Bitcoin exchange-traded funds (ETFs) experienced net outflows of $89.8 million on October 5, reversing the inflows seen on October 2. Despite this withdrawal, net flows over the last five trading sessions remained positive at approximately $120 million. The largest outflow occurred in ARK 21Shares' ARKB, with $85.2 million pulled out, followed by $74.5 million from Fidelity's FBTC. BlackRock's IBIT was the only fund to record significant inflows, attracting $69.9 million.
The latest data suggests a cooling in institutional demand after several strong sessions, although the five-day positive total indicates the October 5 withdrawals have not yet formed a sustained trend. Bitcoin's price also faced selling pressure, dropping from above $86,000 to the mid-$85,000 range. Early on October 6, BTC was trading around $86,010, down 0.15% over 24 hours, according to CoinCodex.
The price decline coincided with the return of ETF outflows, along with factors like a stronger US dollar, elevated Treasury yields, and geopolitical uncertainty. While the $89.8 million withdrawal is relatively small compared to the sector's cumulative inflows, the concentration of selling in ARKB and FBTC will be closely watched in the next trading sessions. A return to inflows could support Bitcoin, while consecutive outflows might add pressure as BTC aims to regain momentum above $86,000.