𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐄𝐓𝐅 𝐨𝐮𝐭𝐟𝐥𝐨𝐰𝐬 𝐬𝐮𝐫𝐩𝐚𝐬𝐬 $𝟑𝟎𝟎𝐦, 𝐚𝐧𝐚𝐥𝐲𝐬𝐭𝐬 𝐰𝐚𝐫𝐧 𝐨𝐟 𝐤𝐞𝐲 𝐩𝐫𝐢𝐜𝐞 𝐥𝐞𝐯𝐞𝐥𝐬
Bitcoin exchange-traded funds (ETFs) in the U.S. faced significant outflows this week, totaling more than $300 million, as global economic tensions caused short-term market uncertainty. Following a bullish close to September, with inflows exceeding $1.1 billion, around $388.4 million exited the 12-spot Bitcoin ETFs between October 1 and October 3. This coincided with rising geopolitical unrest between Iran and Israel, driving Bitcoin to a weekly low of $60,047.
On October 4, the release of positive U.S. payroll data provided some relief to the market, helping Bitcoin climb back to $62,000. ETF products, in turn, saw an inflow of $25.59 million. However, this late recovery wasn’t enough to offset the three-day outflow trend entirely.
Despite September seeing inflows for three consecutive weeks, totaling around $1.91 billion, the outflows during the first week of October left the funds in negative territory, with a net withdrawal of $301.54 million, according to SoSoValue data.
Looking at individual fund performance, Bitwise’s BITB saw the highest inflows on the final trading day, while seven of the twelve Bitcoin ETFs, including BlackRock’s IBIT, experienced no activity. Specifically:
• Bitwise’s BITB led with $15.29 million in inflows.
• Fidelity’s FBTC followed closely with $13.63 million.
• ARK and 21Shares’ ARKB posted its first inflow for the week, gaining $5.29 million.
• VanEck’s BTCW also brought in $5.29 million.
• On the flip side, Grayscale’s GBTC saw outflows of $13.91 million.
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