Bitcoin ETF outflows hit $82.39 million, BlackRock leads withdrawals

US spot Bitcoin exchange-traded funds (ETFs) experienced significant net outflows totaling $82.39 million on October 16. The bulk of these withdrawals came from BlackRock’s iShares Bitcoin Trust (IBIT), which accounted for $71.78 million. At the same time, spot Ethereum ETFs reported $69.68 million in outflows, marking the third consecutive day of withdrawals for these products. Fidelity’s spot Bitcoin ETF also saw its holdings decrease by $10.61 million during the same period. Data compiled by analyst Crypto Patel showed that investors pulled about 1,014 BTC from BlackRock and Fidelity ETFs combined. Bitcoin traded at $81,381.41, retreating 0.38% over 24 hours and falling 1.41% across the past week. In the Ethereum market, BlackRock’s ETHA fund was solely responsible for the day’s $69.68 million outflow, equal to 28,960 ETH.

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