HedgeCo.Net — 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 day extends a choppy month for the category. October’s month-to-date net flow is now about negative $451.7 million, based on Farside’s daily totals. The prior week, October 5 through 9, produced $678.9 million of net bitcoin ETF outflows, including a negative $484.9 million session on October 7, the largest single-day withdrawal of the month so far.
The composition is what stands out. Earlier in the month, redemptions were concentrated in Fidelity’s Wise Origin Bitcoin Fund (FBTC), Grayscale’s GBTC and smaller products, while IBIT kept attracting money. Even after Monday’s redemption, IBIT remains positive for October at roughly $289.5 million, against about negative $411.7 million for FBTC and negative $78.9 million for GBTC, according to Farside’s figures.
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 the pace of selling has eased from last week’s peak even as flows have yet to turn decisively positive.
For allocators and hedge funds trading around ETF flows, the data are a useful sentiment gauge. 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.