HedgeCo.Net — U.S. spot bitcoin exchange-traded funds recorded net outflows of $635.6 million on Thursday, October 22, according to Farside Investors data, reversing a run of strong inflows. The withdrawals ended a three-day inflow streak and more than erased the roughly $525 million the funds had taken in a day earlier. Cointelegraph, citing SoSoValue data, said it was the largest single-day outflow since June 25, when the products lost $696 million.
Redemptions were broad across the largest issuers. BlackRock’s iShares Bitcoin Trust lost $254.1 million, more than the $235 million it gathered the day before. Fidelity’s Wise Origin Bitcoin Fund saw $217.5 million of outflows, ARK 21Shares’ ARKB lost $109.4 million, Bitwise’s BITB shed $27.4 million and Grayscale’s GBTC lost $29.5 million. MSBT was the only fund in Farside’s table with an inflow, at $2.3 million.
The swing follows an active week. Farside data show inflows of $526.7 million on October 19, $23.2 million on October 20 and $524.8 million on October 21 before Thursday’s reversal. Cointelegraph said that, by SoSoValue’s count, the funds still had net weekly inflows of about $443 million but October flows had turned back to a net outflow of roughly $175 million.
The outflow coincided with a sharp selloff in technology stocks on Thursday driven by doubts about AI spending, the same move that produced broad hedge fund losses. Bitcoin itself held up better than equities, closing at about $84,050 on October 22 according to Alpha Finance, up from about $82,985 the prior day, which suggests some of the redemptions reflected risk reduction and arbitrage unwinds rather than a direct bet against the asset.
Cumulative net inflows into U.S. spot bitcoin ETFs since their January 2024 launch stand at roughly $57.4 billion by Farside’s tally, and BlackRock’s fund holds about 62% of the category’s assets, according to Alpha Finance. Daily flows have been choppy all month, so allocators are likely to watch whether Thursday’s selling continues into Friday’s session or proves to be a one-day response to the equity rout.