Bitcoin Funds See €570 Million Outflow on October 22

On October 22, the largest daily outflow since June was recorded, with a net outflow of nearly €570 million from U.S. spot bitcoin funds. BlackRock and Fidelity accounted for approximately €421 million of this outflow. The total withdrawal of $635.6 million exceeded the inflow of nearly €1 billion that occurred earlier this week. BlackRock's IBIT lost about €227 million, Fidelity's FBTC around €194 million, and ARK 21Shares nearly €98 million. Only Morgan Stanley's bitcoin fund saw a small inflow. These outflows have put October back in the negative, with a net outflow of approximately €156 million. Despite the recent outflow, there remained about €395 million over four trading days. The upcoming trading days will reveal whether this outflow was a one-time event or the beginning of a new trend.

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