Spot Bitcoin ETFs shed $635 million on October 22, with BlackRock’s IBIT leading the exodus

A $254 million withdrawal from IBIT drove the day's outflow, ending a run of more than $1 billion in inflows over the prior three days US spot Bitcoin ETFs bled $635 million on October 22, according to SoSoValue data reported by Odaily. That is a sharp reversal for a product category that had spent the previous few days collecting cash. BlackRock’s iShares Bitcoin Trust (IBIT), the biggest name in the space, was the largest single source of the outflow. Investors pulled $254 million from the fund in one session. The timing is what makes the number stand out. In the three days before October 22, these funds attracted more than $1 billion in combined inflows. October 21 alone brought in approximately $528 million.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Crypto Briefing.