Bitcoin institutional investors have hit pause on their recent buying spree as BTC price action settles into a consolidation phase.
Inflows into U.S. spot Bitcoin exchange-traded funds (ETFs) turned net negative for the first time in two weeks, according to data from various sources, including UK-based investment firm Farside Investors.
The cooling interest in Bitcoin ETFs comes as BTC/USD hovers within 10% of its all-time high.
On Oct. 22, U.S. ETF inflows flipped net negative, with a total outflow of $79.1 million for the day.
This downturn was driven by one product, the ARK 21Shares Bitcoin ETF, which saw outflows of $134 million. In contrast, other ETF products had either inflows or no activity at all, Farside data showed.
BlackRock’s iShares Bitcoin ETF (IBIT), the largest by assets under management, recorded $43 million in inflows — significantly lower than the $329 million from the previous day.
Commentator WhalePanda noted the situation on X, remarking, “Price just going sideways around $67k.”
U.S. spot Bitcoin ETF net flows (screenshot). Source: Farside Investors
The last time U.S. ETFs experienced net negative flows was on Oct. 10, when $81.1 million was withdrawn.
Over the past month, ETFs have been a major focal point in the crypto markets.
As Cointelegraph reported, institutional ownership through ETFs now accounts for about 20% of the market, as per data shared on Oct. 18 by Ki Young Ju, co-founder of on-chain analytics platform CryptoQuant.
Ki added, “Thanks to spot ETFs, 1,179 institutions have joined Bitcoin’s cap table this year.”
European investors have also shown interest, allocating more than $100 million to U.S. ETF products year-to-date.
Last week, net inflows for U.S.-based Bitcoin ETFs surpassed $20 billion for the first time, with total assets under management reaching a record $65 billion.
In a joint research report with Coinbase, on-chain analytics firm Glassnode called the surge in ETF interest “one of the biggest stories in the market.”
The report highlighted that in Q3, U.S. Bitcoin ETFs saw over $5 billion in net inflows, reflecting robust demand for direct exposure to Bitcoin from institutional investors.
“These ETFs have become key drivers of liquidity and accessibility, making it easier for a broader range of market participants to gain exposure to Bitcoin without the complexities of direct ownership,” Glassnode noted.
