HedgeCo.Net — U.S. spot bitcoin exchange-traded funds recorded $261.4 million of net outflows on Wednesday, October 14, according to Farside Investors, reversing the previous session’s inflow of roughly $175.7 million. Fidelity’s FBTC led redemptions with $152.7 million of outflows, followed by BlackRock’s IBIT at $110.9 million.
Bitwise’s BITB was the lone gainer, taking in $2.2 million, while the remaining tracked funds were flat. The combined FBTC and IBIT outflows of $263.6 million slightly exceeded the group’s net figure, with BITB’s inflow accounting for the difference.
The selling was not confined to bitcoin. U.S. spot ether ETFs posted about $129.5 million of net outflows on the same day, with BlackRock’s ETHA accounting for most of the withdrawals, according to daily flow trackers. Simultaneous outflows across both major crypto ETF categories point to a broader risk-off move rather than an asset-specific concern.
October flows have swung sharply. Bitcoin ETFs saw nearly $485 million of outflows on October 7, followed by a run of mixed sessions and a solid inflow on October 13 before Wednesday’s reversal. Bitcoin itself has traded in the low-to-mid $80,000 range during this stretch.
For institutional allocators, the takeaway is scale versus direction. U.S. spot bitcoin ETFs have gathered more than $54 billion of cumulative net inflows since launching in January 2024, so a $261 million day is a modest dent in a roughly $100 billion asset base. But concentration matters: when the two largest funds see heavy redemptions together, the resulting share redemptions can translate into meaningful selling in the underlying spot market.