US Bitcoin ETFs Lose $244 Million as Crypto Fund Outflows…
By Karthik Subramanian
AI summary of the source article
U.S.-listed spot cryptocurrency ETFs faced continued net outflows on October 8, with Bitcoin funds losing $244.1 million, according to Farside Investors. Fidelity's Wise Origin Bitcoin Fund (FBTC) led the withdrawals, shedding $197.1 million—roughly 81% of the Bitcoin total. Over two sessions, Bitcoin ETFs saw $729 million in combined redemptions. Solana ETFs lost an additional $3.5 million, while reporting for Ethereum ETFs remained incomplete, showing roughly $1.4 million in net redemptions excluding BlackRock funds. The outflows across digital asset funds coincided with broader market pressures, including rising U.S. Treasury yields, a stronger dollar, and geopolitical tensions.
Why it matters
The sustained outflows highlight softening institutional demand for regulated cryptocurrency ETF products amid macroeconomic pressures including rising Treasury yields and geopolitical uncertainty.
Key facts
- U.S. spot Bitcoin ETFs recorded $244.1 million in net outflows on October 8, totaling $729 million in withdrawals over two trading sessions.
- Fidelity's FBTC drove the redemptions, shedding $197.1 million, or approximately 81% of the category's net outflow.
- Solana ETFs experienced $3.5 million in withdrawals, extending a multi-day negative streak alongside incomplete Ethereum ETF outflows.