Bitcoin ETFs Lose $228.6 Million as October Outflows Deepen
U.S. spot Bitcoin funds recorded a second week of net outflows, while Bitcoin traded near $81,102 on Sunday afternoon.
Key takeaways
- U.S. spot Bitcoin ETFs had $228.6 million in net outflows this week.
- The funds are down about $615 million for October, according to Decrypt’s tracker.
U.S. spot Bitcoin ETFs recorded $228.6 million in net outflows this week, following $681.1 million in outflows the week before, according to SoSoValue. Outflows exceeded inflows on three of five trading days.
Wednesday was the worst session, with $261.4 million in redemptions. The funds are down about $615 million for October, according to Decrypt’s tracker, although cumulative net inflows since launch remain at $57.3 billion.
Selling on Wednesday coincided with a September inflation reading above forecasts, Decrypt reported. Bitcoin briefly fell below $80,000 on Thursday. As of Sunday afternoon, it traded at $81,102, down 0.39% over the previous 24 hours.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
