U.S. spot Bitcoin exchange-traded funds recorded $244.1 million in net outflows on October 8, extending their withdrawal streak to a second consecutive trading session. The latest redemptions brought the two-day outflow total to approximately $731.2 million, following a much larger $487.1 million exit on October 7.
According to TFTC’s Bitcoin ETF flow tracker, Fidelity’s FBTC accounted for most of the October 8 withdrawals, losing $197.1 million. ARK 21Shares’ ARKB followed with $20.3 million in net redemptions, Bitwise’s BITB lost $17.7 million, Grayscale’s GBTC shed $8.2 million and BlackRock’s IBIT recorded a smaller $5.5 million exit. Franklin Templeton’s EZBC was the only fund to post a positive flow, attracting $4.7 million.
Bitcoin ETF Outflows Reverse Early October Inflows
The latest pullback followed an uneven start to October rather than an uninterrupted period of redemptions. The funds lost $89.9 million on October 5, attracted $118.9 million on October 6, then posted withdrawals of $487.1 million and $244.1 million over the following two sessions. Across October 5 through October 8, the four trading days produced approximately $702.2 million in net redemptions.
That sequence extends the sharp flow reversals already visible in September. Earlier in the month, Bitcoin ETFs suffered a roughly $282.6 million redemption session as a multi-day withdrawal run intensified. Later, a nine-session inflow streak worth approximately $3.08 billion ended with $148.7 million in outflows on September 30. The recent data therefore fit a pattern of highly variable creations and redemptions rather than a stable one-directional allocation trend.
Despite the latest withdrawals, cumulative Bitcoin ETF flows remain strongly positive since the products began trading in January 2024. TFTC’s latest dataset places cumulative net inflows around $57.1 billion and total net assets near $105 billion. Those figures should be treated as current tracker snapshots rather than combined with older asset totals from different dates or methodologies.
Ether ETFs Extend Longer Redemption Streak
Bitcoin funds were not the only U.S. crypto ETFs experiencing withdrawals. Spot Ether ETFs recorded another $72.5 million in net outflows on October 8, according to Farside Investors. That session extended Ether’s run to eight consecutive trading days of net redemptions beginning September 29.
The Ether streak included particularly heavy withdrawals of $201.9 million on October 6 and $160.9 million on October 7. By contrast, Bitcoin products had still managed to attract net capital during the preceding week, when they added approximately $241 million between September 28 and October 2. The divergence illustrates why Bitcoin and Ether ETF flows should be evaluated separately rather than treated as a single measure of crypto investment demand.
The withdrawals also coincided with a more difficult macro backdrop. Bitcoin traded around $82,500 after falling below $81,000 during the latest selloff, while rising Treasury yields, elevated oil prices and a stronger dollar were pressuring risk assets more broadly. The timing does not establish that ETF redemptions caused Bitcoin’s decline, since fund flows, leverage, spot selling and macro positioning can all move simultaneously.
For now, the clearest signal is narrower: Bitcoin ETFs have shifted into a two-session redemption streak after a volatile period of inflows and outflows, while Ether funds are experiencing a substantially longer withdrawal run. The flow data show reduced net creations through regulated U.S. crypto products, but they do not reveal whether institutions, advisers or retail holders are responsible for those redemptions.