- U.S. spot Bitcoin ETFs saw a combined daily outflow of $326.4 million on Monday, the largest since late September.
- BlackRock’s iShares Bitcoin Trust (IBIT) continued to attract new investment, recording $134 million in inflows over two trading days.
- Bitcoin’s price declined from $122,000 to $107,000 during the same period.
- Recent IBIT inflows have slowed, with $74.2 million and $60.4 million added in the most recent sessions, lower than previous daily averages.
- Data shows bitcoin performed better during U.S. trading hours compared to Europe and Asia, but returns have weakened since the latest all-time high.
U.S. spot bitcoin exchange-traded funds (ETFs) experienced a significant combined outflow on Monday, with investors pulling $326.4 million from the market, according to Farside data. Despite the overall withdrawal, BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot bitcoin ETF by assets, continued to see inflows as it added a total of $134 million over the last two trading sessions.
In the same period, bitcoin’s price dropped from $122,000 to $107,000, showing a notable downward correction. The IBIT fund has registered inflows for 10 consecutive trading days. However, Farside data shows these inflows were lower than usual, coming in at $74.2 million and $60.4 million for the most recent sessions—figures below the $200 million-plus daily inflows seen in each of the previous eight sessions.
Historical data from Glassnode indicates that IBIT’s fund flows have closely followed bitcoin’s price movement, with inflows rising during market rallies and outflows after price drops. Since bitcoin reached an all-time high of $126,000 on October 6 and then corrected by around 20%, IBIT has maintained steady inflows. In contrast, other ETF issuers have either seen redemptions or flat flows during this period.
Analysis from Velo shows that bitcoin’s performance during U.S. trading hours has weakened. Earlier in October, bitcoin was up over 10% during U.S. sessions across the prior month, but that figure has since decreased to 1.7%. Despite this slowdown, U.S. trading hours still show stronger returns than European or Asian sessions, both of which have posted negative returns in the past month.
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