{"id":570042,"date":"2026-10-08T16:40:34","date_gmt":"2026-10-08T15:40:34","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=570042"},"modified":"2026-10-15T19:58:13","modified_gmt":"2026-10-15T18:58:13","slug":"bitcoin-etfs-suffer-biggest-exodus-since-june-as-ethereum-withdrawals-hit-nine-month-high","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bitcoin-etfs-suffer-biggest-exodus-since-june-as-ethereum-withdrawals-hit-nine-month-high\/","title":{"rendered":"Bitcoin ETFs suffer biggest exodus since June as Ethereum withdrawals hit nine-month high"},"content":{"rendered":"

US spot Bitcoin<\/a> and Ethereum<\/a> exchange-traded funds saw their steepest withdrawals in months as the cryptocurrency market continued to decline.<\/p>\n

Data<\/a> from SoSoValue shows that the 12 listed US Bitcoin ETFs<\/a> lost $484.9 million on Oct. 7, their largest single-day outflow since June 25. BlackRock's iShares Bitcoin Trust (IBIT)<\/a> led the withdrawals with $207.7 million, followed by Fidelity's FBTC at $105.1 million and ARK 21Shares' ARKB<\/a> at $101.7 million.<\/p>\n

Meanwhile, Ethereum ETFs<\/a> recorded $160.9 million in withdrawals, bringing their five-session losses to $506.3 million, the largest since January.<\/p>\n

BlackRock's ETHA<\/a> accounted for $116.1 million of Wednesday's redemptions, while Grayscale's ETHE lost $25.8 million. The funds have now experienced seven consecutive trading sessions of outflows, totaling approximately $569 million.<\/p>\n

Together, the two ETF categories lost about $646 million on Wednesday as Bitcoin fell to its lowest daily close in the last 20 days, below $83,000, while Ethereum retreated toward $2,500 during the reporting period.<\/p>\n

Notably, the price action coincided with rising US Treasury yields, a stronger dollar, and elevated oil prices, adding to pressure on risk assets.<\/p>\n

ETF demand was weakening before the latest withdrawals<\/h2>\n

The latest withdrawals followed signs of weakening institutional demand that Bitfinex analysts had identified before Wednesday's selloff.<\/p>\n

In an Oct. 7 report<\/a>, the analysts noted that Bitcoin ETF flows had become increasingly uneven<\/a>, with investment slowing sharply after the buying spree that supported September's recovery.<\/p>\n

Daily inflows averaged $341.7 million during Bitcoin's mid-September rally from $76,000 to $87,000. However, that figure fell to about $35 million per day over the five trading sessions through Oct. 6, totaling $172.9 million in cumulative net inflows.<\/p>\n

The remaining demand was also heavily concentrated in BlackRock's IBIT, which attracted $536.2 million during those five sessions while competing Bitcoin ETFs collectively lost $363.3 million.<\/p>\n

That divergence left the market increasingly reliant on a single fund to offset redemptions elsewhere, a source of support that weakened when IBIT joined Wednesday's selling.<\/p>\n

The reversal comes as Bitcoin has fallen below the estimated average acquisition price of ETF investors.<\/p>\n

Citing Checkonchain data<\/a>, Bitfinex placed the flow-weighted average ETF cost basis<\/a> at $84,318. The analysts observed that daily inflows historically moderated toward approximately $65 million as Bitcoin approached investors' aggregate breakeven level.<\/p>\n

Wednesday's close under $83,000 has pushed Bitcoin below that threshold, raising the possibility that further declines could prompt additional redemptions as investors seek to limit losses.<\/p>\n

Although the estimate does not reflect individual investors' entry prices, it gauges the profitability of capital deployed through the funds.<\/p>\n

Ethereum is showing additional signs of weakening demand. Beyond its persistent ETF withdrawals, CryptoSlate<\/em> previously reported growing demand for short exposure in the derivatives market<\/a>, with traders holding short positions paying longs through negative perpetual futures funding rates.<\/p>\n

The positioning suggests that bearish traders are increasingly willing to incur costs to maintain exposure to further price declines, adding to the pressure reflected in Ethereum ETF redemptions.<\/p>\n

Bitfinex also warned that weaker institutional inflows were leaving the broader altcoin market increasingly dependent on capital rotating among existing cryptocurrency positions.<\/p>\n

That could leave smaller tokens especially exposed if Bitcoin's decline accelerates, as investors seeking to reduce risk withdraw capital from altcoins instead of rotating into other digital assets.<\/p>\n","protected":false},"excerpt":{"rendered":"

US spot Bitcoin and Ethereum exchange-traded funds saw their steepest withdrawals in months as the cryptocurrency market continued to decline. Data from SoSoValue shows that the 12 listed US Bitcoin ETFs lost $484.9 million on Oct. 7, their largest single-day outflow since June 25. BlackRock’s iShares Bitcoin Trust (IBIT) led the withdrawals with $207.7 million, […]<\/p>\n","protected":false},"author":720,"featured_media":570060,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,78665,77968,79312,6849],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nBitcoin ETFs suffer biggest exodus since June as Ethereum withdrawals hit nine-month high<\/title>\n<meta name=\"description\" content=\"Bitcoin ETFs lost $484.9 million on Oct. 7, their largest daily outflow since June, while Ethereum funds continued their outflow streak.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/bitcoin-etfs-suffer-biggest-exodus-since-june-as-ethereum-withdrawals-hit-nine-month-high\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin ETFs suffer biggest exodus since June as Ethereum withdrawals hit nine-month high\" \/>\n<meta property=\"og:description\" content=\"Bitcoin ETFs lost $484.9 million on Oct. 7, their largest daily outflow since June, while Ethereum funds continued their outflow streak.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/bitcoin-etfs-suffer-biggest-exodus-since-june-as-ethereum-withdrawals-hit-nine-month-high\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2026-10-08T15:40:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-10-15T18:58:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/crypto-etf-capital-drain.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/bitcoin-etfs-suffer-biggest-exodus-since-june-as-ethereum-withdrawals-hit-nine-month-high\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/bitcoin-etfs-suffer-biggest-exodus-since-june-as-ethereum-withdrawals-hit-nine-month-high\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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