UPDATE: Bitcoin ETFs shed $773.5 million over two days as ETH outflows hit $1.2B
CIE News ·
Update to UPDATE: Spot crypto ETFs hit by $746.4 million in net outflows on October 22
Based on reporting by CryptoSlate; not yet independently confirmed.
U.S. spot Bitcoin ETFs shed $773.5 million over Thursday and Friday, while spot Ethereum funds reached $1.2 billion in October redemptions amid a four-week outflow streak.
U.S. spot Bitcoin (BTC) exchange-traded funds recorded a $773.5 million drain over a two-day period across Thursday and Friday, following earlier reports of heavy weekly crypto ETF redemptions. The updated outflow includes $137.9 million in net withdrawals on Friday, coming after a $635.6 million exit on Thursday.
BlackRock's IBIT and Fidelity's FBTC served as the primary drivers of the two-day decline, shedding $254.1 million and $217.5 million respectively. CryptoSlate reported that Thursday's withdrawals were the largest daily outflow since June 25, reversing a substantial portion of inflows recorded earlier in the week.
Simultaneously, U.S. spot Ethereum (ETH) ETFs extended their losing streak to four consecutive weeks, recording between $220.7 million and $224 million in net withdrawals. The latest ETH outflows brought total net redemptions for Ethereum ETF products to $1.2 billion for the month of October.
Key facts
- $773.5M two-day BTC ETF outflow
- $1.2B October ETH redemptions
- IBIT lost $254.1M
- FBTC lost $217.5M
Read the original at CryptoSlate