- Bitcoin ETFs in the United States saw their largest outflow day in almost a month on October 1st, with a total outflow of $24.26 million.
- This outflow reversed an eight-day trend of consecutive inflows totaling $14.94 million.
- The outflow is attributed to rising tensions in the Middle East after Iran’s missile attack on Israel on October 1st.
The outflows this week reversed an inflow trend over the past 8 days, with rising geopolitical tensions appearing to spook institutional investors.
Outflow Totals
The 11 US spot Bitcoin ETFs saw an aggregate outflow of $242.6 million on Tuesday, October 1st, according to data from Farside Investors. This was the largest outflow in almost a month, after September 3rd saw $288 million leaving Bitcoin ETFs.
It was also the third-largest outflow day over the past five months, reversing an eight-consecutive trading day trend of inflows that topped out at $494 million on September 27th.
The Fidelity Wise Origin Bitcoin Fund saw the largest outflow at $144.7 million on October 1st, followed by the ARK 21Shares Bitcoin ETF, which lost $84.3 million.
The Bitwise Bitcoin ETF had an outflow of $32.7 million, while the VanEck Bitcoin ETF lost $15.8 million and the Grayscale Bitcoin Trust dropped $5.9 million.
There were zero flows for Invesco, Franklin, Valkyrie, WisdomTree, and Grayscales Mini Bitcoin Trust.
BlackRock iShares Bitcoin Trust was the only one to post positive flows, recording $40.8 million for the day – marking its 15th consecutive day of non-outflow.
Bitcoin Price Impact
Spot Bitcoin (BTC) prices plunged almost $4,000 in the wake of Iran’s missile attack on Israel on October 1st. The asset fell to a two-week low of $60,315 before recovering to $61,620 at the time of publication.
Ether ETFs Also See Outflows
Meanwhile, the nine US spot Ether ETFs also registered a day of outflows, with an aggregate of $48.6 million exiting the products.
Grayscale’s Ethereum Trust continued to lead the bleed, shedding $26.6 million on October 1st. The Fidelity Ethereum Trust lost a similar $25 million, with the pair making up the bulk of the losses.
