US spot Bitcoin ETFs saw another round of withdrawals on Oct. 14, with total net outflows reaching $261.4 million, according to Farside Investors. BlackRock and Fidelity accounted for most of the move.
Bitcoin prices stayed under pressure at the same time. Based on the latest available Binance market snapshot on Oct. 15, BTC traded at about $81,102, down 3.13% over 24 hours. The token fell as low as $80,274 during the session and reached a high of about $83,822, bringing it close again to the $80,000 level.
FBTC and IBIT drove the day’s outflows
Farside Investors data showed that Fidelity’s FBTC posted $152.7 million in net outflows on Oct. 14, while BlackRock’s IBIT recorded $110.9 million in net outflows. Combined, the two funds lost about $263.6 million.
By contrast, Bitwise’s BITB brought in about $2.2 million in net inflows. Other funds did not show notable flow changes, leaving the group with a net daily outflow of $261.4 million overall.
The reversal came one trading day after a short-lived rebound. On Oct. 13, US spot Bitcoin ETFs had recorded $175.7 million in net inflows before switching back to sizable outflows the next day.
October cumulative outflows top $537 million
Adding up the daily flows from Oct. 1 through Oct. 14, US spot Bitcoin ETFs have posted about $537.4 million in cumulative net outflows for the month. The figures suggest institutional demand has not yet returned to a stable footing.
Earlier in October, the category logged an even larger single-day net outflow of $484.9 million on Oct. 7, followed by another $244.1 million on Oct. 8. That means the latest $261.4 million withdrawal was significant, but not the worst reading of the year.
BTC hovers near the $80,000 line
As ETF money moved out, spot Bitcoin prices weakened as well. Binance data showed BTC’s market capitalization at about $1.6 trillion, with 24-hour trading volume at about $42.7 billion as of Oct. 15.
During Asian trading hours, BTC briefly dropped to $80,274 before recovering to around $81,102, keeping market attention fixed on whether the $80,000 level would hold.
Inflation data shifts focus back to Fed policy
The ETF outflows also arrived as US inflation data came in hotter than expected. The Bureau of Labor Statistics reported September consumer price index growth of 3.7% year over year, while core CPI rose 2.6% year over year.
That data led the market to reassess the Federal Reserve’s next rate steps. Even so, the available information does not show that the Oct. 14 ETF withdrawals were entirely caused by the CPI release.