US Bitcoin ETFs See $635M Outflow, Ending Inflow Streak

US spot Bitcoin ETFs recorded $635 million in net outflows on Thursday. This withdrawal ended a three-day inflow streak for the funds. The Thursday outflow was the largest single-day net outflow since June 25. It erased Wednesday's $528 million in inflows. As a result, US spot Bitcoin ETFs had $175 million in net outflows for October after Thursday's withdrawals. The outflows erased nearly 60% of a three-day, $1.07 billion inflow streak.

BlackRock's IBIT led Thursday's net outflows with $254.1 million. Other cryptocurrency ETFs also saw withdrawals. Ether ETFs recorded around $111 million in net outflows on Thursday. Solana ETFs saw roughly $9 million in net outflows. In contrast, XRP ETFs attracted around $3.6 million in inflows on Thursday. Bitcoin traded near $81,460 despite the heavy ETF outflows.

Bitcoin funds debuted in January 2024 and have since drawn $57.8 billion in net inflows. Cumulative net inflows for Bitcoin ETFs slipped to $57.8 billion after Thursday's outflows. Traders cut the odds of Bitcoin topping $87,500 this month to 17%. The Federal Reserve next meets on Oct. 27-28.