Key Takeaways
- • U.S. spot bitcoin ETFs recorded net outflows of $65.4 million on Monday, October 12, with the entire amount coming from BlackRock's iShares Bitcoin Trust (IBIT), according to Farside Investors data.
- • SoSoValue figures reported by Crypto Briefing matched the $65.4 million total, and every other U.S. spot bitcoin ETF recorded no inflow or outflow for the session.
- • October month-to-date net flows for the category stand at roughly negative $451.7 million, following $678.9 million of outflows in the week of October 5 through 9.
- • Despite Monday's redemption, IBIT remains positive for October at about $289.5 million, while Fidelity's FBTC (about negative $411.7 million) and Grayscale's GBTC (about negative $78.9 million) have seen the bulk of earlier month redemptions.
- • Monday's outflow was roughly one-third the size of IBIT's $207.7 million redemption on October 7, suggesting selling pressure has eased but flows have not turned decisively positive.
Summary
U.S. spot bitcoin exchange-traded funds recorded net outflows of $65.4 million on Monday, October 12, and every dollar came from BlackRock's iShares Bitcoin Trust (IBIT), according to Farside Investors data. SoSoValue figures reported by Crypto Briefing matched that total, with every other U.S. spot bitcoin ETF showing no inflow or outflow for the session.
The session extends a choppy month for the category. Based on Farside's daily totals, October's month-to-date net flow is about negative $451.7 million. The prior week, October 5 through 9, produced $678.9 million of net outflows, including a negative $484.9 million session on October 7, the largest single-day withdrawal of the month so far.
The composition of flows is the notable feature. Earlier in October, redemptions were concentrated in Fidelity's Wise Origin Bitcoin Fund (FBTC), Grayscale's GBTC and smaller products, while IBIT continued to attract capital. Even after Monday's redemption, IBIT remains positive for the month at roughly $289.5 million, against about negative $411.7 million for FBTC and negative $78.9 million for GBTC, per Farside's figures. HedgeCo.Net argues that a single-fund outflow with no movement elsewhere looks more like a decision by a specific set of IBIT holders than a broad exit from the asset class. Monday's figure was also roughly a third the size of IBIT's $207.7 million redemption on October 7, which suggests selling has eased from last week's peak even though flows have not turned decisively positive.
For allocators and hedge funds trading around ETF flows, the data serve as a useful sentiment gauge. HedgeCo.Net notes that after a strong run of inflows into early October, rising yields and inflation concerns have weighed on demand for spot crypto products. A return to steady creations in the largest funds would be the clearest sign that institutional appetite has stabilized.
The session extends a choppy month for the category. Based on Farside's daily totals, October's month-to-date net flow is about negative $451.7 million. The prior week, October 5 through 9, produced $678.9 million of net outflows, including a negative $484.9 million session on October 7, the largest single-day withdrawal of the month so far.
The composition of flows is the notable feature. Earlier in October, redemptions were concentrated in Fidelity's Wise Origin Bitcoin Fund (FBTC), Grayscale's GBTC and smaller products, while IBIT continued to attract capital. Even after Monday's redemption, IBIT remains positive for the month at roughly $289.5 million, against about negative $411.7 million for FBTC and negative $78.9 million for GBTC, per Farside's figures. HedgeCo.Net argues that a single-fund outflow with no movement elsewhere looks more like a decision by a specific set of IBIT holders than a broad exit from the asset class. Monday's figure was also roughly a third the size of IBIT's $207.7 million redemption on October 7, which suggests selling has eased from last week's peak even though flows have not turned decisively positive.
For allocators and hedge funds trading around ETF flows, the data serve as a useful sentiment gauge. HedgeCo.Net notes that after a strong run of inflows into early October, rising yields and inflation concerns have weighed on demand for spot crypto products. A return to steady creations in the largest funds would be the clearest sign that institutional appetite has stabilized.
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