Bitcoin ETFs shrink October outflows to $26M

Two days of buying added $286 million into US spot Bitcoin ETFs and trimmed October’s net outflows to around $26 million.

The funds had bled about $774 million over last week’s Thursday and Friday.

IBIT and FBTC split Tuesday’s $176 million haul

The inflows were about $176 million on Tuesday, October 27, for the second straight day of net inflows. Monday’s haul was $110 million.

Most of the exit from last week took place on Thursday, October 22, with $635.49 million departing. Friday’s outflows were $137.94 million.

The selloff followed a $528.40 million inflow on Oct. 21, the biggest single day for the month.

Including the latest buying, net inflows year to date are about $850 million. The funds traded $1.58 billion on Tuesday.

BlackRock’s IBIT added $151.46 million on Oct. 27, and Fidelity’s FBTC contributed $24.54 million. FBTC’s $14.20 billion of net assets rank second, behind IBIT.

All other US spot Bitcoin funds registered zero net flow that day. Since the launch of the products in January 2024, cumulative net inflows are $57.47 billion.

Net assets total $103.94 billion. This is 6.40% of Bitcoin’s market cap as of Oct. 27.

IBIT’s cumulative net inflows totaled $66.40 billion, leaving it with net assets of $65.52 billion. Grayscale’s GBTC is sitting on -$28.00 billion in cumulative net flows.