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Bitcoin ETF flows turned negative in October after US$487 million outflow

2026-10-09 03:29:26
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U.S. spot Bitcoin ETF suffered its largest one-day net outflow since June

On Wednesday, the U.S. -listed spot Bitcoin ETF experienced its largest one-day outflow since June as Bitcoin (BTC) prices fell to $82,000 and erased all gains in early October, causing monthly capital flows to turn negative. Investors withdrew nearly $490 million in funds.

According to SoValue data, the net outflow for the day was US$487 million. The figure exceeded a previous record set this year-fund redemptions of $691.7 million on June 25 last year. Several institutions estimated that the net outflow for the day was approximately 2.1 standard deviations of the 90-day average inflow (approximately US$92 million). In a normal distribution, values fall within two standard deviations in 95% of the time.

In order to intuitively feel the changes in market sentiment: Reports show that in March this year, when the Bitcoin trading price was close to US$70,000, the largest single-day outflow in three weeks was US$171.12 million. The scale of this outflow far exceeded that at that time.

BlackRock IBIT led the decline

The selling was mainly concentrated in the largest funds. BlackRock's iShares Bitcoin Trust (IBIT) reported a net outflow of $207.7 million, accounting for approximately 43% of all fund sales that day.

Fidelity's FBIT posted a loss of $105.1 million, and ARK21 Shares's ARKB lost $101.7 million, bringing the two funds to a combined outflow of $206.8 million. Grayscale's GBTC lost $39.3 million, and Bitwise's BitB spilled $27.6 million.

值得注意的是,就在前一交易日,这些基金曾获得1.188亿美元的流入,其中仅IBIT就吸引了1.22亿美元。Bitfinex分析师在本周早些时候指出,ETF流入量已较上周下降约90%,若要再次尝试冲击90,000美元关口,需要新的现货买入动力。

10月初的 gains 一日消散

进入10月后的四个交易日内,ETF曾录得3.216亿美元的流入:10月1日流入1.027亿美元,10月2日流入1.899亿美元,10月5日流出8,980万美元,10月6日流入1.188亿美元。然而,周三的流出抹去了大部分前期成果,截至10月7日,当月累计净流出达1.633亿美元。CoinDesk对10月的估算也显示了类似的1.656亿美元流出情况。

这使得年初至今的净流入降至仅7.17亿美元。考虑到自7月以来累计净流入已降至-57.6亿美元的低位,目前的缓冲空间非常有限。自2024年1月基金推出以来,其累计净流入曾达到573.3亿美元。

比特币测试9月以来形成的支撑位

过去24小时内,比特币价格下跌超过3%。截至发稿时,BTC平均交易价格为80,642美元。此前,比特币在10月5日收于85,771美元,10月6日收于85,540美元,10月7日收于83,282美元,这标志着对9月21日上涨动能减弱后确立的价格底部进行测试。

Glassnode offered a more moderate view, noting that total spot exchange and ETF volume has averaged about $6.8 billion per day over the past seven days, down from nine-tenths of the period since January 2024. Glassnode points out that the closest clearing range lies between $81,700 and $83,300, which is the area where Bitcoin currently trades, while Binance has a large number of spot orders at $81,000 and $81,250.

Ethereum Fund is also facing capital outflows

It is not just Bitcoin that has recently withdrawn. On October 7, the outflow of funds from the U.S. spot Ethereum ETF once again reached US$160.9 million, which was the seventh consecutive day of decline since September 29. BlackRock's ETHA recorded an outflow of $116.1 million, and Gray's ETHA outflow of $25.8 million. During the seven-day negative cycle, the Ethereum ETF fund lost a total of approximately $568.8 million.

However, one indicator showed the opposite trend. Sanitation records showed that 24,073 bitcoins were net withdrawn from the exchange on October 5, the largest one-day outflow in seven months, bringing exchange reserves to below 6.5% of total supply. The company believes this is a positive sign because there is a reduction in the amount of bitcoins that can be sold, although a mere outflow does not guarantee a price increase.

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