Bitcoin Spot ETFs Shift from Inflows to $244M Outflows
US Bitcoin spot ETFs saw a sharp reversal in flows between 6 and 8 October. On 6 October, the funds recorded $119 million in net inflows, led by BlackRock’s IBIT with $122 million; Morgan Stanley’s MSBT added $7.84 million, while Grayscale’s Bitcoin Mini Trust (BTC) saw $10.97 million in outflows. Two days later, Bitcoin spot ETFs posted $244 million in net outflows. Fidelity’s FBTC led withdrawals with $197 million, and Franklin’s EZBC was the only fund to attract inflows, adding $4.71 million. Despite the latest withdrawals, FBTC’s cumulative net inflows remained $10.519 billion. Across the funds, net assets stood at $104.914 billion, equal to 6.38% of Bitcoin’s market capitalisation, while cumulative net inflows were $57.086 billion. The latest Bitcoin ETF outflows point to near-term caution and uneven institutional demand, but the funds’ substantial cumulative inflows show that longer-term allocations remain significant.
Bearish
The latest data show a sizeable $244 million net outflow from Bitcoin spot ETFs on 8 October, following $119 million in inflows on 6 October. The reversal, led by $197 million in withdrawals from Fidelity’s FBTC, may weigh on Bitcoin sentiment in the short term: traders often interpret sustained ETF redemptions as weaker institutional demand and may reduce exposure or increase hedging. However, the two reported days show that flows can change quickly, and one fund, Franklin’s EZBC, still attracted inflows on 8 October. Cumulative ETF net inflows remained substantial at $57.086 billion, while assets under management exceeded $104 billion. These figures temper the bearish signal: if outflows ease or reverse, long-term institutional participation could continue to support demand. The immediate price impact is therefore more likely to be negative than decisive, with broader market conditions and subsequent daily ETF flows important to confirming the trend.