US Bitcoin ETFs Lost $261.4 Million in a Day

American spot Bitcoin ETFs recorded a net outflow of $261.4 million on October 14, according to Farside Investors. One fund stood out: Bitwise BITB attracted $2.2 million, while the two largest products in the category were losing money. The issue wasn't limited to Bitcoin – spot Ethereum ETFs lost $130 million on the same day, indicating a broad pullback rather than a single asset story.

The main hit was on two heavyweights: Fidelity FBTC led redemptions with $152.7 million, BlackRock IBIT with $110.9 million. In total, that's $263.6 million – more than the net figure for the entire group. The inflow into BITB smoothed the difference: its $2.2 million reduced the combined losses of FBTC and IBIT to $261.4 million. The other funds, by arithmetic, had a roughly flat day. Farside tracks net creations and redemptions across 12 American spot Bitcoin ETFs; on October 14, BITB was one of the few with a positive figure.

October changes direction sharply. On October 7, nearly $487 million was withdrawn from Bitcoin ETFs – the largest outflow of the month at that point. On October 13, the same group attracted $175.7 million. A day later, the money left again. This dynamic is important not just on paper: with inflows, a fund creates new shares and buys Bitcoin, with redemptions – it buys back shares and often sells part of its assets. A day with $261.4 million in net redemptions can translate into real pressure on the spot market.

US spot Bitcoin ETFs launched in January 2024 and quickly became a major channel for institutional money. Since launch, they have accumulated over $54 billion in net inflows, and total assets by mid-October were estimated at approximately $100–107 billion. Against this backdrop, the $261.4 million outflow is a modest scratch: it accounts for noticeably less than 1% of assets even at the lower end of the range. Bitcoin itself during this period was trading in the lower-mid $80,000 range.