Bitcoin ETFs Lose $635.6 Million, October Flows Turn Negative

U.S. spot Bitcoin ETFs recorded $635.6 million in net outflows on Thursday, the largest daily exit of October. The withdrawal erased nearly 60% of the roughly $1.07 billion the funds had gathered over the previous three sessions and put the month back in the red, with net flows of about negative $176 million.

The outflow topped the $484.9 million exit on Oct. 7, which was the worst since June at the time. On Wednesday, October inflows had climbed to roughly $460 million. Cumulative net inflows since launch now stand at $57.8 billion, and total net assets are $100.2 billion.

Ethereum and Solana funds also bleed

Ethereum ETFs lost $110.6 million, a day after ending a five-day outflow streak, and their October losses now total about $1.18 billion. Solana ETFs shed $8.9 million, taking monthly outflows to around $68 million, with only two days of inflows this month.

Because issuers report flows daily and much of the money comes from institutions and financial advisers, the figures are closely watched as a gauge of investor sentiment.

Prices barely move

Despite the selling, prices held steady. Bitcoin traded near $81,460 on Friday, flat over 24 hours and down 0.4% on the week. Ethereum slipped 0.2% to about $2,400 and Solana 0.3% to roughly $104. Over 30 days, Bitcoin is down 4.8%, Ethereum 11.4% and Solana 10.4%. Total crypto market capitalization is about $2.85 trillion, while trading volume fell 20% to $67.1 billion.

Thursday's selling coincided with a weak day in broader markets, as oil rose above $111 a barrel and AI stocks slid, pulling the S&P 500 lower. The Federal Reserve meets Oct. 27-28, and traders expect rates to be held, which generally supports risk assets such as crypto.

On the prediction market Myriad, traders cut the odds of Bitcoin topping $87,500 before the end of October to 17% from 20%, and give 9% odds of reaching $90,000. They see a 32% chance of a drop to $77,500.