US Spot Bitcoin ETFs See More Than $600 Million in One-Day Net Outflows

More than $600 million flowed out of US spot Bitcoin exchange-traded funds in a single day, with BlackRock and Fidelity products accounting for the bulk of the withdrawals.

Data from SoSoValue on Oct. 22 showed daily net outflows from US spot Bitcoin ETFs totaled $635.49 million. BlackRock's IBIT posted the largest outflow at $254.05 million, followed by Fidelity's FBTC at $217.46 million. Combined, the two funds accounted for about 74% of the total.

ARK Invest and 21Shares' ARKB saw $109.43 million in outflows. Grayscale's GBTC and Bitwise's BITB also recorded net outflows of $29.53 million and $27.35 million, respectively.

By contrast, Morgan Stanley's MSBT was the only fund to post net inflows, taking in $2.33 million. The remaining six products, including Grayscale Bitcoin Mini Trust (BTC) and VanEck's HODL, recorded no net flows.

As of that day, cumulative net inflows into US spot Bitcoin ETFs stood at $57.32 billion. By product, IBIT has attracted cumulative net inflows of $66.24 billion, while GBTC's cumulative net outflows reached $28 billion.