Bitcoin ETFs Shed $487M, Every Fund Sees Outflows

U.S. spot Bitcoin ETFs recorded $487.07 million in net outflows on October 7, marking the largest single-day withdrawal since late June. The selling was broad-based, with none of the 12 Bitcoin ETFs tracked in the latest SoSoValue data recording a net inflow.

BlackRock's IBIT led the withdrawals with $207.67 million, followed by Fidelity's FBTC with $105.15 million. Despite the latest selling, both funds continue to hold substantial cumulative inflows, with IBIT at roughly $65.72 billion and FBTC at $10.72 billion.

The latest outflow also reverses the positive flow recorded just one session earlier, when U.S. spot Bitcoin ETFs attracted about $118.9 million.

Every Bitcoin ETF saw withdrawals

The notable part of the October 7 session was how widespread the selling was.

No fund recorded a net inflow, leaving the entire spot Bitcoin ETF group in negative territory for the day. IBIT's $207.67 million withdrawal was the largest, while FBTC's $105.15 million was the second-largest.

The withdrawals come after a much stronger period for Bitcoin ETF demand. The funds had recorded nine consecutive inflow sessions through late September, accumulating roughly $3.1 billion during that run.

That momentum had already started to weaken in October. On October 6, Bitcoin ETFs attracted $118.9 million after losing $89.9 million the previous day.

Related: Bitcoin ETFs Shed $90M as BTC Trades 32% Below ATH

The $487 million withdrawal therefore represents a much sharper reversal than the modest outflows seen earlier in the week.

Largest daily outflow since late June

The October 7 withdrawal ranks among the largest daily outflows recorded by U.S. spot Bitcoin ETFs this year.

Data tracking daily ETF flows shows the funds recorded a larger $696.3 million outflow on June 25. The next sessions in late June also saw heavy withdrawals, including $444.5 million on June 26 and $231.1 million on June 29.

That makes the latest $487.07 million withdrawal the largest daily outflow since June 26, rather than the largest outflow since June overall.

June was an unusually weak month for the products. U.S. spot Bitcoin ETFs lost roughly $4.5 billion during the month, their worst monthly performance since launching in January 2024.

ETF assets remain above $107B

Despite the latest withdrawal, the Bitcoin ETF market remains substantially larger than it was during the June selloff.

The 12 funds held about $107.40 billion in total net assets as of the latest reporting period. Their combined ETF net asset ratio stood at approximately 6.41% of Bitcoin's total market capitalization, while cumulative net inflows since launch reached about $57.33 billion.

IBIT remains the largest contributor to the category's cumulative inflows. Its $65.72 billion historical net inflow is more than six times Fidelity's $10.72 billion figure, according to the latest data.

The size of the ETF market means a single day of nearly $500 million in withdrawals is significant, but it does not erase the much larger capital base built since the products launched.

A sharp change after a strong quarter

The latest selling comes after a strong third quarter for Bitcoin ETFs.

U.S. spot Bitcoin ETFs attracted roughly $6.3 billion during Q3, although the first half of the year had produced substantial withdrawals. By the end of September, the funds' full-year net inflow had recovered to roughly $985 million.

Related: Bitcoin ETFs Took $6.3B in Q3, but 2026 Is Near Flat

That recovery followed a particularly strong September. The funds recorded several large inflow sessions, including a $998.95 million inflow on September 21, the largest single-day inflow in 11 months.

The contrast with October 7 is therefore stark. ETF demand went from a period of sustained accumulation in September to a session where every tracked fund recorded an outflow.

Bitcoin ETF demand faces a new test

The latest numbers put institutional Bitcoin demand back in focus after the strong recovery seen through September.

The $487.07 million withdrawal does not erase the $57.33 billion accumulated since the ETFs launched, but it is large enough to stand out against the more modest daily flows seen at the start of October. The fact that every tracked fund recorded an outflow also makes the session broader than a single-fund redemption event.

For now, the key change is the speed of the reversal. Bitcoin ETFs moved from a $118.9 million inflow on October 6 to a $487.07 million outflow one day later. The next few sessions will show whether October 7 was an isolated burst of selling or the start of another period of heavier withdrawals.