Bitcoin ETF Outflows Hit $730M as Institutional Investors Exit

Key Insights:

• Bitcoin ETF outflows contributed $407.4 million to October’s withdrawals.
• Ethereum ETFs extended their losing streak to eight consecutive trading sessions.
• Franklin Templeton’s XRP ETF offered another channel for institutional crypto exposure.

U.S. spot Bitcoin ETF outflows accelerated through Oct. 8 as cryptocurrency prices retreated. Bitcoin and Ethereum exchange-traded funds (ETFs) recorded combined net withdrawals approaching $1 billion.

Farside Investors’ data showed that investors withdrew capital despite inflows earlier in October. The withdrawals raised questions about institutional demand following Bitcoin’s unsuccessful attempt to sustain gains above $85,000.

Meanwhile, Franklin Templeton continued to offer XRP exposure through its exchange-traded product. Thus, it provided investors with another cryptocurrency investment option.

Bitcoin ETF Outflows Deepen as BTC Price Falls Below $82K

The Farside Investors’ data showed Bitcoin ETFs recorded $244.1 million in net withdrawals on Thursday. The losses followed Wednesday’s $484.9 million outflow, marking two consecutive sessions of institutional fund withdrawals.

BlackRock’s iShares Bitcoin Trust recorded relatively modest withdrawals during Thursday’s session. Fidelity’s Wise Origin Bitcoin Fund accounted for $197.1 million, representing most of the day’s net outflows.