Bitcoin ETFs Break 9-day Inflow Streak With $4.5m Outflows

Bitcoin ETFs recorded $4.50 million in net outflows on Friday, Oct. 10, ending a nine-day streak of positive flows that had brought over $5 billion into the products.

The reversal comes as Bitcoin (BTC) price slumped 8% in the last 24 hours, falling from a 24-hour high of $122,000 to as low as $105,000 before recovering to $111,700.

Cumulative total net inflows remain at $62.77 billion across all Bitcoin ETF products, with total net assets standing at $158.96 billion.

The outflows mark the first negative day since the streak began on Oct. 1, when ETFs attracted $675.81 million.

This was followed by major inflow days, including Oct. 6, with $1.21 billion, and Oct. 7, with $875.61 million.

Mixed performance across individual Bitcoin ETFs

The Friday outflows were not uniform across providers, with BlackRock’s IBIT managing to attract $74.21 million in inflows while several other products experienced redemptions.

Fidelity’s FBTC saw $10.18 million in outflows, Grayscale’s GBTC recorded $19.21 million in redemptions, and Grayscale’s BTC product lost $5.68 million.

Ark 21Shares’ ARKB experienced $6.21 million in outflows, while Bitwise’s BITB saw the largest single-day redemption at $37.45 million.

Multiple products, including VanEck’s HODL, Invesco’s BTCO, and several others, reported zero net flows for the day.

The previous day, Oct. 9, had seen $197.68 million in inflows, maintaining the positive momentum that was seen in most of the month.

The sharp 8% decline in Bitcoin’s price from $122,000 to $105,000 appears to have triggered profit-taking among institutional investors who had accumulated positions during the nine-day inflow streak.

Bitcoin’s recovery to $111,700 suggests the selloff found support at lower levels. However, the ETF outflows indicate institutional caution regarding the near-term price direction.