US spot Bitcoin ETFs log up to $487M in daily net outflows
CIE News ·
US spot Bitcoin ETFs shed between $484.9 million and $487 million on October 7, while spot Ethereum funds recorded a seventh straight session of withdrawals.
US spot Bitcoin ETFs saw net outflows between $484.9 million and $487 million on October 7, marking their heaviest single-day withdrawal since June 25, according to cryptotimes.io and cryptoticker.io. Outflows were led by Fidelity's FBTC with $105.1 million and Ark Invest and 21Shares' ARKB with $101.7 million, cryptoticker.io reported, while the publication noted BlackRock's iShares fund data remained outstanding on Thursday morning. Total net assets across the spot Bitcoin ETFs stood between $107.40 billion and $110.68 billion.
The withdrawals accompanied wider market declines as Bitcoin (BTC) slipped toward the $82,000 area. Crypto derivatives saw more than $651 million in long positions forcibly liquidated in 24 hours, cryptoticker.io reported, while cryptotimes.io noted pressure from Federal Reserve minutes released October 7 that indicated another interest-rate increase remains likely before year-end.
Spot Ethereum ETFs also recorded their seventh consecutive day of net outflows on October 7, cryptoticker.io reported. Cumulative redemptions across the ether funds totaled at least $452.7 million over the seven trading days, following a $201.9 million pull from BlackRock's ether fund on October 6.