Bitcoin: ETFs Shed $635M, the Biggest Outflow Since June

Thursday, October 22, American bitcoin ETFs experienced $635.49 million in net outflows, their heaviest single-day loss since June 25. BlackRock and Fidelity account for nearly three-quarters of the withdrawals. In one day, this movement erased nearly 60% of the inflows recorded over the previous three sessions. The day before, purchases had extended to eight funds . However, as early as Thursday, the trend reversed: investors withdrew $635.49 million, erasing nearly 60% of the $1.08 billion accumulated over three sessions. The two main funds illustrate this reversal. BlackRock’s IBIT and Fidelity’s FBTC had attracted $447.70 million on Wednesday. The next day, they recorded a combined outflow of $471.51 million. Their combined balance over these two days thus turns slightly negative. This turnaround accompanies the bitcoin decline.

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