Bitcoin funds post their biggest one-day outflow since June

Investors pulled a net $635.6 million from US spot bitcoin exchange-traded funds on Oct. 22, according to Farside Investors. That was the largest one-day net outflow since June 25, when the funds lost $691.7 million, by Le Coin's check of Farside's full daily history. It came straight after three trading days in which the same funds took in a net $1,074.7 million.

These funds let investors hold bitcoin through an ordinary brokerage account, so their daily flows show which way that money is moving. Farside reports each fund's net creations and redemptions, meaning new fund shares issued minus shares cashed in; it does not say who traded or why.

The withdrawal was led by the largest funds. BlackRock's iShares Bitcoin Trust (IBIT) lost $254.1 million, Fidelity's FBTC $217.5 million and ARK 21Shares' ARKB $109.4 million, according to Farside. Grayscale's GBTC lost $29.5 million and Bitwise's BITB $27.4 million. Only one fund, MSBT, reported an inflow, of $2.3 million. Grayscale's Bitcoin Mini Trust (BTC), Invesco Galaxy's BTCO, Franklin's EZBC, VanEck's HODL and the remaining smaller funds reported no flow for the day.

Source: Farside Investors (https://farside.co.uk)

Fig. 1. Daily net flows into US spot bitcoin ETFs from Oct. 1 to Oct. 22. Oct. 22 is the largest outflow of the month, ahead of the $484.9 million day on Oct. 7. Source: Farside Investors.

The pattern looks like October's previous big outflow. On Oct. 7, when the funds lost a net $484.9 million, IBIT lost $207.7 million, FBTC $105.1 million and ARKB $101.7 million, with GBTC and BITB also down, according to Farside. The same three funds led both days.

The breadth flipped in a single session. On Oct. 21, seven funds took in money and none reported an outflow, per Farside. A day later, five funds lost money and one gained. That reversal left the four days from Oct. 19 to Oct. 22 at a net inflow of $439.1 million, by Le Coin's sum of Farside's daily totals.

For October as a whole, the picture is close to flat. Across the 16 trading days from Oct. 1 to Oct. 22, the funds recorded a combined net outflow of $175.6 million, by Le Coin's sum of Farside's figures. Seven of those days were net outflows and nine were net inflows, and the month has swung between large days in both directions.

The size of the day sits in context. Farside's history shows five days in 2026 with bigger outflows: Jan. 21 ($708.7 million), Jan. 29 ($817.8 million), May 18 ($648.6 million), May 27 ($733.4 million) and June 25 ($691.7 million). Oct. 22 is the largest since the last of those, not a record.

In Le Coin's view, the speed of the turn is a more telling detail than the size. Funds that drew broad inflows on Oct. 21 gave much of it back the next day, which suggests that flows across issuers can move together in both directions. The caution is that one day is a single data point, and flows record what fund investors did, not what prices will do.

Ether funds moved the same way. US spot ether ETFs lost a net $110.6 million on Oct. 22, according to Farside, led by BlackRock's iShares Ethereum Trust (ETHA) at $75.5 million. That followed a net inflow of $14.9 million on Oct. 21.

Across all funds, Farside puts cumulative net inflows into US spot bitcoin ETFs since their January 2024 launch at $57,388 million.

The next read is whether the outflow stays concentrated in a few large funds or spreads.

Sources

• ETF flows: Farside Investors, https://farside.co.uk (Bitcoin ETF Flow and Ethereum ETF Flow tables), accessed Oct. 23, 2026, 6:09 a.m. ET; Bitcoin ETF Flow All Data, https://farside.co.uk/bitcoin-etf-flow-all-data/, accessed Oct. 23, 2026, 6:12 a.m. ET. Multi-day totals, the October total and the "largest since June 25" comparison are Le Coin's arithmetic on Farside's daily Total column, with no adjustment.

Holding the Corner.

Not financial advice.