US spot Bitcoin ETFs slip into October outflows after Thursday withdrawals
US spot Bitcoin ETFs saw net withdrawals on Thursday, which ended a three-day run of inflows. For October so far, these funds show $175 million in net outflows. Traders may read this as a sign that demand for Bitcoin through these funds has cooled.
Why it matters
- Thursday's withdrawals ended a three-day streak of money flowing into US spot Bitcoin ETFs.
- US spot Bitcoin ETFs have $175 million in net outflows for October.
- Fund flows are a gauge of institutional demand, which can influence Bitcoin's price direction.
What to watch next
Watch whether US spot Bitcoin ETFs return to net inflows in the coming sessions, which would suggest renewed demand.
