⏱ 3 min read
▼ 3.06%
▼ 6.04%
Prices as of 2026-10-08 17:02 UTC. Source: CoinGecko.
Bitcoin ETFs saw the biggest one-day redemptions since June 25, while Ethereum funds extended a seven-day outflow streak.
US spot funds saw heavy redemptions on Oct. 7, with bitcoin etf outflows of $484.9 million and Ethereum ETF withdrawals of $160.9 million, according to SoSoValue. Set against $160.9 million from Ether funds, the $484.9 million in Bitcoin ETFs made up roughly 75% of the combined $646 million. For Bitcoin ETFs, it was the largest single-day outflow since June 25, the report said.
BlackRock’s iShares Bitcoin Trust (IBIT) led Bitcoin redemptions at $207.7 million, followed by Fidelity’s FBTC at $105.1 million and ARK 21Shares’ ARKB at $101.7 million, SoSoValue’s data showed. On the Ethereum side, BlackRock’s ETHA accounted for $116.1 million of Wednesday’s redemptions, and Grayscale’s ETHE lost $25.8 million. Across Ether funds, five-session losses reached $506.3 million, the largest since January; Wednesday’s $160.9 million was about 32% of that sum (160.9 against 506.3 is about 31.8%). The funds have now posted seven consecutive trading sessions of outflows totaling approximately $569 million, according to the report.
The report added that the session coincided with Bitcoin’s lowest daily close in 20 days, under $83,000, while Ethereum moved toward $2,500. It also said this price action coincided with rising US Treasury yields, a stronger dollar and elevated oil prices.
ETF outflows reflect share redemptions and show the size of money leaving the products, not who sold. In spot structures, redemptions reduce shares outstanding and can lead to selling of the underlying asset, which can add pressure to the asset’s price.
Flows had thinned before the selloff
Bitfinex analysts wrote on Oct. 7 that Bitcoin ETF flows had become uneven, with investment slowing sharply after the buying burst that supported September’s recovery. They said daily inflows averaged $341.7 million during Bitcoin’s mid-September rally from $76,000 to $87,000, but fell to about $35 million per day over the five trading sessions through Oct. 6, totaling $172.9 million of net inflows.
The remaining demand was concentrated in IBIT, which attracted $536.2 million over those five sessions while competing Bitcoin ETFs collectively lost $363.3 million, the analysts said. That left the market increasingly reliant on a single fund to offset redemptions elsewhere, a support that weakened when IBIT joined Wednesday’s selling, according to the report.
Bitfinex, citing Checkonchain data, estimated the flow-weighted average ETF cost basis at $84,318. The analysts observed that daily inflows historically moderated toward approximately $65 million as Bitcoin approached ETF investors’ aggregate breakeven level. With Wednesday’s close under $83,000, the report said Bitcoin moved below that threshold, which Bitfinex suggested could raise the risk of additional redemptions as investors look to limit losses. They added the estimate gauges the profitability of capital deployed via the funds rather than individual entry prices.
For Ethereum, the report said derivatives positioning has shown shorts paying longs via negative perpetual funding rates, suggesting bearish traders were willing to incur costs to maintain downside exposure, echoing the direction of ETF redemptions. Bitfinex also warned that weaker institutional inflows leave the broader altcoin market more dependent on rotation among existing positions, which could leave smaller tokens especially exposed if Bitcoin’s decline accelerates.
Source: CryptoSlate.
This article was written with AI assistance and reviewed by an editor.
This content is for informational purposes only and does not constitute financial advice.
🧠 HafidWatch Take
With ETF inflows dropping sharply to levels near historical lows as Bitcoin’s price fell below the estimated average cost basis of $84,318, there is increased risk that redemptions could accelerate, putting further downward pressure on prices. The weakening support from ETF demand means the market may become more reliant on continued buying from a few funds or other sources to stabilize prices, highlighting vulnerabilities if broader investor interest does not recover.
Daily crypto intelligence. Before the market opens.
Including the Divergence Index — the sentiment gap no other newsletter tracks. Free, every morning at 7:30am ET.
✓ Free forever · ✓ No spam · ✓ 50+ sources monitored
