Bitcoin ETF Outflows Narrow To $228.4M In A Week, From $678.9M Before

Spot Bitcoin ETFs lost money again last week, but far less of it. Bitcoin ETF outflows came to $228.4 million across the five trading days from October 12 to 16, according to Farside Investors. The week before, October 5 to 9, they came to $678.9 million. Both sums are our arithmetic from Farside's daily totals, since the site publishes daily rows and no weekly figure.

Bitcoin ETF outflows, day by day

Only two of the five sessions finished positive. October 13 took in $175.7 million, with FBTC adding $103.1 million and IBIT $65.9 million. October 15 added a thin $5.1 million. The worst day was October 14, when $261.4 million left, $152.7 million of it from FBTC and $110.9 million from IBIT. October 12 lost $65.4 million and October 16 lost $82.4 million.

The week before was heavier. October 7 alone lost $484.9 million and October 8 lost another $244.1 million, according to the same table.

Daily net flows for spot Bitcoin ETFs from October 1 to 16, in millions of dollars. Source: Farside Investors.

Which funds drove the Bitcoin ETF outflows

The mix changed between the two weeks. From October 5 to 9, BlackRock's IBIT was roughly flat at plus $1.1 million. Fidelity's FBTC lost $380.3 million and Ark's ARKB lost $207.2 million, which is $587.5 million between the two.

Last week the pressure moved to IBIT, the largest fund of the group. IBIT lost $165.4 million, almost three quarters of the weekly total. FBTC lost another $60.2 million. ARKB, which had been busy the week before, recorded no flows at all.

Smaller names barely moved the total. Bitwise's BITB added $2.2 million on October 14. Morgan Stanley's MSBT added $6.7 million on October 13. Grayscale's mini fund lost $7.6 million on October 15.

Price in the same two weeks

Bitcoin fell in both weeks, by Binance daily candles. It lost about 4.5% across the first one and about 2.6% across the second. So the smaller Bitcoin ETF outflows did not come with a rebound. On Sunday morning the price sat near $81,700.

The pairing is worth watching but proves nothing alone. Flows are reported after the close, and price kept moving after each report.

Where October stands

Add up the twelve sessions so far this month and the net is minus $614.7 million. The first two sessions of October brought in a combined $292.6 million. After that the table shows six outflow days out of ten.

For comparison, September netted minus $82.5 million across the whole month by the same table. The slower pace last week does not change the monthly sign. Bitcoin ETF outflows are still the story of October so far.

Farside also shows the long view. Since launch the funds have taken in a net $56.9 billion. IBIT alone accounts for $65.6 billion of that, while Grayscale's original GBTC has lost $27.9 billion.

This article reports published flow data and is not advice to buy or sell Bitcoin or any ETF.