{"id":14858,"date":"2026-10-23T18:48:50","date_gmt":"2026-10-23T18:48:50","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=14858"},"modified":"2026-10-23T18:48:50","modified_gmt":"2026-10-23T18:48:50","slug":"bitcoin-etfs-shed-635-million-as-btc-tests-their-holdings-estimated-81500-cost-basis","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=14858","title":{"rendered":"Bitcoin ETFs shed $635 million as BTC tests their holdings\u2019 estimated $81,500 cost basis"},"content":{"rendered":"

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US spot Bitcoin exchange-traded funds recorded about $635 million in net outflows Thursday as the cryptocurrency traded near the estimated cost basis of the funds’ Bitcoin holdings.<\/p>\n

The Oct. 22 withdrawals were the largest daily outflow since June 25 and reversed nearly 60% of the inflows the funds attracted over the previous three trading sessions, per SoSoValue data.<\/p>\n

BlackRock’s iShares Bitcoin Trust (IBIT) led the selling with $254 million in withdrawals, followed by Fidelity’s FBTC at $217 million. Together, the two funds accounted for approximately 74.2% of the day’s net outflows.<\/p>\n

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US Bitcoin ETFs Daily Flows (Source: Trader T)<\/figcaption><\/figure>\n

ARK Invest’s ARKB shed another $109 million, while Grayscale’s GBTC and Bitwise’s BITB lost $30 million and $27 million, respectively. Morgan Stanley’s MSBT was the only fund to attract fresh capital, recording about $2 million in inflows.<\/p>\n

The reversal coincided with Bitcoin’s decline to as low as $80,841 during the reporting period, extending the cryptocurrency’s struggle to recover as escalating Middle East tensions and renewed concerns about US technology stocks unsettled financial markets.<\/p>\n

Bitcoin’s institutional support faces pressure from rising oil prices<\/h2>\n

The latest withdrawals interrupted a recovery that had appeared to restore institutional demand following two consecutive weeks of ETF outflows.<\/p>\n

Bitcoin funds attracted $527 million on Oct. 19, then $23 million on Oct. 20 and $528 million on Oct. 21. Thursday’s selling reduced the week’s net inflows to about $443 million.<\/p>\n

Simon-Peter Massabni, head of business development at XS.com, told CryptoSlate<\/em> that the unstable flows stem from increasingly cautious investors seeking short-term trading opportunities rather than committing capital for extended periods.<\/p>\n

He said Bitcoin continues to find tentative support above $80,000, although buying momentum remains insufficient to establish a sustained recovery.<\/p>\n

In its Oct. 21 market report, Glassnode estimated, using data through Oct. 19, that US spot Bitcoin ETFs acquired their holdings at an average price of approximately $81,500, while corporate Bitcoin treasuries hold their coins at an estimated average cost of $80,200.<\/p>\n

The analytics firm found that buy orders around $80,000, substantially depleted during the Oct. 15 selloff, had been replenished by Oct. 20, although at smaller levels than previously recorded.<\/p>\n