Bitcoin ETFs See $255M in 30-Day Outflows Despite IBIT Gains
U.S. spot Bitcoin ETFs recorded $254.7 million in net outflows over the 30 calendar days through Oct. 26, based on Farside Investors’ daily figures. BlackRock’s IBIT attracted $961.9 million, but Fidelity’s FBTC lost $725 million and ARK 21Shares’ ARKB shed $281.3 million, leaving the overall Bitcoin ETF category in negative territory.
Flows turned positive over the next three sessions through Oct. 28, bringing in $423.6 million. IBIT accounted for about 93.9% of that total. The rebound followed $773.5 million in withdrawals across Oct. 22 and 23, recovering about 54.8% of those losses.
Glassnode said ETF trading averaged roughly $1.3 billion a day since May, with volume falling to $700 million on Oct. 23. It estimated the average cost basis of ETF-held Bitcoin at about $81,500. Bitcoin was reported near $79,811 on Oct. 29, below that estimate. The data point to mixed Bitcoin ETF demand: recent inflows may support sentiment, but the 30-day net outflow and subdued trading activity remain potential headwinds for traders.
Neutral
The signal is mixed, supporting a neutral assessment. Over the 30-day window, U.S. spot Bitcoin ETFs had net outflows of $254.7 million, indicating that aggregate demand was not strong enough to offset withdrawals from products such as FBTC and ARKB. Yet IBIT attracted nearly $962 million, and ETF flows turned positive by $423.6 million over the next three sessions. This suggests that buying interest remained concentrated rather than broad-based.
In the short term, renewed inflows can improve sentiment and provide a demand tailwind, but flows alone do not guarantee a price rally. The three-day rebound only recouped about 54.8% of the $773.5 million withdrawn on Oct. 22 and 23. Glassnode also reported subdued ETF trading volumes, while its estimated ETF Bitcoin cost basis of $81,500 was above the reported Oct. 29 price near $79,811. If prices remain below that level, some holders may be near or below breakeven, potentially limiting follow-through buying or prompting caution.
Similar past flow reversals have often produced short-lived sentiment shifts unless inflows persist across several sessions and broaden across issuers. For traders, the key signals are whether net inflows continue, whether they extend beyond IBIT, and whether trading volume strengthens. In the longer term, sustained ETF demand could support Bitcoin by adding institutional buying pressure. Continued volatility in flows, however, leaves the market vulnerable to changes in risk appetite and profit-taking. The figures therefore point to neither a decisive bullish trend nor a clear deterioration in market stability.