- Bitcoin ETFs saw $4.5 million in outflows on October 10, ending nine days of strong inflows totaling over $5 billion.
- BlackRock’s IBIT attracted $74.21 million while Bitwise’s BITB led redemptions with $37.45 million amid a volatile session.
- Despite the pullback, cumulative Bitcoin ETF inflows stand at $62.77 billion, reflecting resilient institutional interest.
Bitcoin exchange-traded funds recorded $4.5 million in net outflows on Friday, October 10, ending a nine-day streak of strong inflows. The reversal followed an 8% drop in Bitcoin’s price, which fell from a 24-hour high of $122,000 to as low as $105,000 before recovering to $111,700. The shift in sentiment came after institutional investors took profits following a sustained period of capital inflows since the beginning of the month.
Between October 1 and 9, Bitcoin ETFs attracted over $5 billion in cumulative inflows, reflecting strong institutional confidence. During this period, October 6 saw the largest single-day inflow of $1.21 billion, followed by $875.61 million on October 7. However, the momentum slowed as Bitcoin’s price corrected sharply, leading to modest redemptions across several major ETF products.
Mixed Flows Across Leading ETF Providers
The outflows were uneven across issuers. BlackRock’s iShares Bitcoin Trust (IBIT) remained resilient, drawing $74.21 million in new investments despite broader market weakness. In contrast, Bitwise’s BITB reported the largest single-day withdrawal of $37.45 million, while Grayscale’s GBTC recorded $19.21 million in redemptions. Fidelity’s FBTC saw $10.18 million in outflows, and Ark 21Shares’ ARKB lost $6.21 million. Several other products, including VanEck’s HODL and Invesco’s BTCO, reported no net flows for the day.
Despite Friday’s minor setback, cumulative net inflows across all Bitcoin ETFs remain strong at $62.77 billion, with total assets under management standing at $158.96 billion. The prior day, October 9, had seen inflows of $197.68 million, continuing the positive trend that dominated most of the month. The latest data suggest investors are cautious but still maintain considerable exposure to Bitcoin through regulated ETF structures.
Market Sentiment and Price Stabilization
The brief outflow period indicates that institutional participants are closely monitoring market volatility after Bitcoin’s recent rally. While the 8% decline prompted some redemptions, the quick rebound to above $111,000 shows underlying support remains intact. ETF data imply that investors are recalibrating positions rather than exiting the market, signaling continued confidence in Bitcoin’s long-term trajectory.
