Bitcoin ETFs shed $635 million as BTC tests their holdings’ estimated $81,500 cost basis
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Bitcoin ETFs shed $635 million as BTC tests their holdings’ estimated $81,500 cost basis

Coin Bino
By Coin Bino

On Thursday, US spot Bitcoin exchange-traded funds experienced approximately $635 million in net outflows while the leading cryptocurrency hovered close to the estimated cost basis of the funds’ aggregate Bitcoin reserves. The redemptions on Oct. 22 marked the heaviest single-day outflow since June 25, effectively wiping out nearly 60% of the capital inflows the funds had gathered across the prior three trading sessions.

Frequently Asked Questions

  • How much did US spot Bitcoin ETFs lose on Thursday?
    The funds recorded approximately $635 million in net outflows.
  • When was the last time daily outflows were this large?
    Thursday’s withdrawals marked the largest daily outflow since June 25.
  • How do these outflows compare to recent trading sessions?
    The withdrawals reversed nearly 60% of the inflows the funds attracted over the previous three trading sessions.
  • What was Bitcoin’s price behavior during these outflows?
    BTC was trading near the estimated cost basis of the funds’ Bitcoin holdings.

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