- U.S. spot Bitcoin ETFs experienced nearly $243 million in outflows on October 1, the largest in a month.
- Fidelity Wise Origin Bitcoin Fund led the withdrawals, with $144.7 million in outflows that day.
- Only BlackRock iShares Bitcoin Trust recorded inflows, marking its 15th consecutive day without outflows.
On October 1, United States spot Bitcoin exchange-traded funds (ETFs) experienced significant outflows as institutional investors reacted to escalating tensions in the Middle East. Data from Farside Investors indicates that the 11 U.S. spot Bitcoin ETFs saw a collective outflow of $242.6 million, marking the largest single-day outflow in nearly a month.
Largest Outflows in Recent Months
The withdrawal was the third-largest daily outflow over the last five months and reversed a streak of eight consecutive trading days of net inflows, which peaked at $494 million on September 27. The Fidelity Wise Origin Bitcoin Fund was most affected, losing $144.7 million, followed by the ARK 21Shares Bitcoin ETF, which had an $84.3 million outflow.
Several other funds also saw significant withdrawals, including the Bitwise Bitcoin ETF with $32.7 million, the VanEck Bitcoin ETF with $15.8 million, and the Grayscale Bitcoin Trust with $5.9 million. On the other hand, five funds — Invesco, Franklin, Valkyrie, WisdomTree, and Grayscale’s Mini Bitcoin Trust — reported no flows at all.
BlackRock iShares Remains Resilient
BlackRock iShares Bitcoin Trust was the only one to report positive inflows, bringing in $40.8 million for the day, and extending its streak to 15 consecutive days without outflows.
The market’s response came as Bitcoin prices dropped significantly following a missile attack by Iran on Israel on October 1. The digital asset dropped nearly $4,000, reaching a two-week low of $60,315, before rebounding to $61,620.
Spot Ether ETFs also saw similar activity on October 1, with an aggregate $48.6 million in outflows. Grayscale’s Ethereum Trust led the losses, shedding $26.6 million, while Fidelity’s Ethereum Trust lost $25 million, contributing to the bulk of the withdrawals.
