US spot Bitcoin exchange-traded funds (ETFs) returned to net outflows in the latest trading session, with investors pulling a combined $89.8 million from the products on Oct. 5.
The reversal came immediately after the funds attracted $189.9 million on Oct. 2. Despite the latest withdrawals, net flows across the last five trading sessions stayed positive at roughly $120 million.
Bitcoin ETF flows (Source: Farside Investors)
ARK 21Shares' ARKB suffered the largest outflow of the session after losing $85.2 million. Fidelity's FBTC followed with $74.5 million in withdrawals. BlackRock's IBIT was the only fund in the group to record meaningful inflows, and attracted $69.9 million. The remaining spot Bitcoin ETFs reported no net flows for the session.
The latest numbers suggest institutional demand has cooled after several stronger sessions. However, the five-day total remaining positive indicates that the Oct. 5 withdrawals have not yet developed into a sustained outflow trend.
Bitcoin Price Slips as ETF Flows Turn Negative
Bitcoin also came under modest selling pressure over the past 24 hours. BTC traded above 86,000 during parts of Oct.5 before falling toward the mid 85,000 range.
Bitcoin was trading around $86,010 early on Oct. 6, down roughly 0.15% over 24 hours according to CoinCodex. During Oct. 5, BTC traded as high as roughly $86,970 before falling as low as $84,977.
The decline coincided with the return of ETF outflows, while a stronger US dollar, elevated Treasury yields and geopolitical uncertainty have also weighed on Bitcoin.
The $89.8 million ETF withdrawal is relatively modest compared with the sector's cumulative inflows, but the concentration of selling in ARKB and FBTC will put the next few trading sessions under scrutiny. A return to sustained inflows could provide some more support for Bitcoin, while consecutive outflow sessions could add pressure as BTC triesto regain momentum above $86,000.
