Key Points
- US spot Bitcoin ETFs recorded $635 million in net withdrawals on Thursday, reversing the previous day’s $528 million in inflows.
- Monthly net outflows reached $175 million, despite weekly inflows of $443 million.
- Ether, Solana and Hyperliquid ETFs recorded net outflows, while XRP ETFs attracted fresh capital.
Bitcoin ETF Withdrawals Reverse Recent Inflows
US spot Bitcoin exchange-traded funds (ETFs) recorded $635 million in net outflows on Thursday, pushing October’s cumulative flows back into negative territory and interrupting a recent recovery in institutional investment demand.
According to SoSoValue data, the withdrawals more than offset Wednesday’s $528 million in inflows, leaving the funds with approximately $175 million in net outflows for October.
Thursday’s outflows marked the largest single-day withdrawal since June 25, when Bitcoin ETFs lost $696 million. The latest reversal also ended a three-day inflow streak that had attracted approximately $1.08 billion, highlighting the uneven pace of capital flows into regulated Bitcoin investment products.
Despite the sharp daily decline, the funds maintained weekly net inflows of $443 million. This followed two consecutive weeks of net outflows, suggesting that the latest withdrawal occurred within a broader period of changing investor demand rather than establishing a definitive longer-term trend.
Bitcoin Retreats From Recent Highs
Bitcoin traded between $80,996 and $82,551 on Thursday, retreating from Wednesday’s intraday high of $84,777. The cryptocurrency was trading near $81,783 at the time of publication, down approximately 1% over the preceding 24 hours, according to CoinGecko data.
The price decline coincided with the reversal in ETF flows, although the available figures do not establish that fund withdrawals directly caused the market movement.
ETF flows remain an important indicator of investor demand for regulated Bitcoin exposure. Sustained inflows can support demand for the underlying asset, while substantial redemptions may reflect portfolio rebalancing, reduced risk appetite or a shift toward other investments. Daily figures, however, can fluctuate significantly and are not sufficient on their own to determine the direction of the broader market.
The combination of a sharp daily outflow and positive weekly flows illustrates the importance of assessing investment activity across multiple time frames.
Altcoin ETFs Also Record Net Withdrawals
Investment products tracking other cryptocurrencies experienced similar pressure on Thursday. Ether ETFs recorded approximately $111 million in net outflows, while Solana ETFs lost roughly $9 million and Hyperliquid (HYPE) ETFs recorded about $8 million in withdrawals.
XRP ETFs moved against the broader trend, attracting approximately $3.6 million in net inflows.
The distribution of flows suggests that selling pressure extended beyond Bitcoin-related investment products, although XRP’s positive result indicates that demand was not uniformly negative across the market.
Differences in fund flows may reflect asset-specific investor positioning, changing expectations or portfolio allocation decisions. Further data would be needed to establish whether the divergence between XRP and other products represents a sustained shift in investor preferences.
Outlook
The next several trading sessions will help determine whether Thursday’s withdrawals mark a temporary reversal or the beginning of a more persistent period of redemptions. Bitcoin ETF flows, weekly investment totals and price stability will remain important indicators of institutional demand. For now, positive weekly inflows provide a counterweight to the sharp daily outflow, while the return of October’s cumulative flows to negative territory points to continued uncertainty in the market.
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