US spot Bitcoin ETFs bled $484.9 million on Wednesday, the biggest single-day withdrawal since late June and enough to erase the month's early gains. The reversal came one session after the funds collected $118.8 million, leaving the cohort with roughly $163 million in net outflows for October so far, according to Farside Investors data.
BlackRock leads the exit
IBIT accounted for $207.7 million of Wednesday's redemptions, a sharp turn from the $122 million it attracted the day before. Fidelity's FBTC and ARK 21Shares' ARKB followed with $105.1 million and $101.7 million in outflows respectively. The June 25 comparison point, $691.7 million in withdrawals, remains the high-water mark for the year, per Farside.
Ether streak extends to seven
Spot Ether ETFs logged a seventh consecutive day of net outflows, shedding $160.9 million on Wednesday. Since September 29 the group has lost approximately $569 million. BlackRock's ETHA drove the latest session with $116.1 million in withdrawals, while Grayscale's ETHE added $25.8 million, Farside figures show.
Price backdrop
Bitcoin changed hands around $82,700 on Thursday, down roughly 2 percent from a day earlier based on CoinGecko data. The move coincides with the ETF exodus but the funds' flow data does not establish causation.
What to watch
The October inflow reversal puts the focus on whether Wednesday marks a sentiment shift or a one-off rebalancing. Ether's week-long outflow run, now the longest since the funds launched, will test if the product structure can sustain interest without the novelty premium that carried Bitcoin's early months.