Bitcoin ETFs Lose $643 Million in One Day, Erasing 64% of 2026 Inflows
U.S. spot Bitcoin exchange-traded funds (ETFs) recorded $643.3 million in net outflows on Friday, October 30, wiping out nearly two-thirds of their net investment inflows for 2026 and highlighting weakening demand for Bitcoin exposure among investors. The withdrawals were the largest single-day outflow since June 25, according to SoSoValue data.
Before Friday's withdrawals, spot Bitcoin ETFs had accumulated slightly more than $1 billion in net inflows for the year. The latest outflow reduced that total by 63.6%, leaving the funds with only a modest positive net inflow for 2026.
Friday's withdrawal was the 12th-largest single-day outflow since U.S. spot Bitcoin ETFs began trading in January 2024. The previous larger outflow occurred on June 25, when investors pulled $696.3 million from the funds. Friday's figure also narrowly exceeded the $635.5 million outflow recorded on October 22.
BlackRock and Fidelity ETFs Lead Withdrawals
BlackRock's iShares Bitcoin Trust (IBIT) recorded the largest outflow on Friday, losing $233.70 million. Fidelity's Wise Origin Bitcoin Fund (FBTC) followed with $201.4 million in net withdrawals.
Spot Bitcoin ETFs hold Bitcoin directly and trade shares on exchanges, allowing investors to gain exposure to the cryptocurrency without having to purchase and custody the coins themselves. Their investment flows are widely monitored as an indicator of demand from institutional and traditional financial market participants.
The latest withdrawals coincided with other signs of weaker buying pressure. The Coinbase premium, a metric often tracked to assess demand from U.S.-based investors, remained negative, while sentiment indicators also pointed to a more cautious market environment.
Analysts Link Outflows to Binance Hack and Weakening Demand
Bitfire Research said in an email to CoinDesk that the $643 million withdrawal pushed total assets under management in U.S. spot Bitcoin ETFs below $100 billion, to $98.14 billion. The firm also pointed to continued weekly net outflows from spot Ethereum ETFs.
Bitfire Research said the Coinbase premium remained between negative 0.18% and negative 0.27%, while the Crypto Fear & Greed Index fell into a range of 30 to 34. The firm interpreted these indicators as evidence that institutional and spot-market buying momentum had weakened.
Derive, a decentralized exchange focused on options trading, attributed the ETF withdrawals to the approximately $6.3 billion Binance hack reported late Thursday. The incident added uncertainty to a market that was already under pressure.
Nick Forster, founder and CEO of Derive, told CoinDesk that the attack was followed by significant withdrawals from U.S. spot Bitcoin ETFs during their first trading session afterward. He said traditional investors reacted to the uncertainty by moving to protect themselves against potential further losses.
U.S. Election and Jobs Report Among Key Market Events
Bitfire Research identified three developments that could influence the near-term outlook for Bitcoin and the wider cryptocurrency market. The first is the U.S. midterm election on November 3, which could affect the regulatory outlook during the final two years of President Donald Trump's term.
The second is the U.S. nonfarm payrolls report scheduled for November 6, covering labor market conditions in October. The report could influence expectations for Federal Reserve interest-rate decisions, with potential consequences for cryptocurrencies and other financial assets.
MSCI Rules Could Affect Major Corporate Bitcoin Holders
The third factor is MSCI's final list of companies affected by its new rules for non-operating companies. The index provider has identified Strategy (MSTR) and Metaplanet, both prominent corporate Bitcoin holders, as potential candidates for exclusion.
If either company is excluded from relevant indexes, its shares could face selling pressure from passive investment funds. The source also noted that such pressure could indirectly affect the companies' ability to accumulate additional Bitcoin.
With ETF outflows accelerating and several market-moving developments approaching, investors are watching whether Bitcoin investment demand can recover after the Binance-related shock and the latest deterioration in market sentiment.
source: coindesk
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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