On Thursday, October 22, 2026, investors pulled a net $635.6 million out of US spot Bitcoin ETFs. That was the largest single-day outflow since June 25, according to SoSoValue data cited by Cointelegraph and 24/7 Wall St., and The Block's own tracker shows the same total. It ended a three-day inflow streak. The week still ended positive: from Monday, October 19, to Thursday, October 22, net inflows were about $442.7 million. Since the products launched in January 2024, cumulative net inflows remain above $57 billion. So October 22 was a large one-day reversal, not a run on the funds.
The latest numbers: week of October 19, 2026
Daily net flows across all US spot Bitcoin ETFs, as reported by The Block on October 23, 2026:
| Date (2026) | Net flow |
|---|---|
| Mon, Oct 19 | +$526.7M |
| Tue, Oct 20 | +$23.2M |
| Wed, Oct 21 | +$528.4M |
| Thu, Oct 22 | −$635.6M |
| Week to Thursday | +$442.7M |
Cointelegraph, citing SoSoValue, put the three inflow days at $1.08 billion combined. It said the week's inflows followed two straight weeks of net outflows.
Which funds the money left on October 22
- iShares Bitcoin Trust (IBIT), BlackRock: −$254.1M
- Another large issuer's fund: −$217.5M (IBIT and this fund made up about 74% of the day's outflows, per 24/7 Wall St.)
- ARK 21Shares Bitcoin ETF (ARKB): −$109.4M
- Grayscale Bitcoin Trust (GBTC): −$29.5M
- Bitwise Bitcoin ETF (BITB): −$27.4M
- Morgan Stanley's MSBT: +$2.3M, the only inflow of the day. The remaining funds had zero flows (The Block).
Friday, October 23: the two largest funds
24/7 Wall St. reported more selling on Friday from the same two funds: IBIT lost $110.3M and the other large fund lost $31.8M.
October 2026 so far
- Week of October 5–9: net outflows of $681.1 million (24/7 Wall St.). The biggest day in that week was October 7, at −$487.07M, followed by −$244.13M on October 8.
- The following week, ending October 16: net outflows of $228.6 million (24/7 Wall St.).
- Month to date after October 22: about −$175 million (Cointelegraph, citing SoSoValue). Trackers update at different times, so totals vary by source.
Size of the market behind these flows
- Total net assets of US spot Bitcoin ETFs: $104.7 billion (24/7 Wall St.). The Block gives "more than $100 billion".
- Cumulative net inflows since January 2024: $57.3 billion (24/7 Wall St.). The Block gives "more than $57 billion".
- IBIT net assets: $65,878,000,986 as of October 23, 2026, according to BlackRock's iShares fund page.
Even the largest outflow day this month was about 1.1% of cumulative net inflows ($635.6M ÷ $57.3B).
October's Bitcoin ETF flows, day by day and fund by fund
Switch between the week of October 19, the funds behind the October 22 outflow, and October's weekly totals to see how one big day compares with the trend.
Data table
| Item | $M | Source |
|---|---|---|
| Mon, Oct 19 | 526.7 | |
| Tue, Oct 20 | 23.2 | |
| Wed, Oct 21 | 528.4 | |
| Thu, Oct 22 | -635.6 | |
| Week to Thursday | 442.7 |
Data table
| Item | $M | Source |
|---|---|---|
| IBIT (BlackRock) | -254.1 | |
| Another large issuer's fund | -217.5 | |
| ARKB | -109.4 | |
| GBTC | -29.5 | |
| BITB | -27.4 | |
| MSBT | 2.3 |
Data table
| Item | $M | Source |
|---|---|---|
| Week of Oct 5–9 | -681.1 | |
| Week ending Oct 16 | -228.6 | |
| Oct 19–22 (to Thursday) | 442.7 |
This shows reported net flows only. It leaves out Friday, October 23, whose full total was not published, and it cannot show which redemptions were in kind or basis-trade unwinds, or what any flow means for the price.
Price context
Bitcoin traded around $81,500 after the October 22 outflow (The Block). 24/7 Wall St. put it near $80,483 on the morning of October 24. That was about 1% above the October 15 low of $79,676 and about 36% below the all-time high of $126,080 set in October 2025. The same day, CoinGlass data cited by The Block showed at least $440 million of leveraged crypto positions liquidated in 24 hours, $397 million of them longs.
Flows and price move together, but cause and effect run both ways. Outflows can add selling pressure, and falling prices can also trigger redemptions.
How ETF outflows actually work
A net outflow means more shares were redeemed than created on a given day. Ordinary trades between investors on the stock exchange do not change a fund's share count. Only creations and redemptions by authorised participants (APs), the large broker-dealers that deal directly with the fund, change it.
The plumbing changed in 2025:
- January 10, 2024: the SEC approved "the listing and trading of a number of spot bitcoin exchange-traded product (ETP) shares." Those approvals allowed cash creations and redemptions only. To pay out a redemption, the fund sold bitcoin for cash.
- July 29, 2025: the SEC voted "to approve orders to permit in-kind creations and redemptions by authorized participants" for bitcoin and ether ETPs (SEC press release 2025-101). An AP can now hand back shares and receive bitcoin directly.
So an outflow does not always mean the fund sold bitcoin on the open market. In an in-kind redemption, the coins go to the AP, who may hold them, hedge them or sell them. The effect on spot supply depends on what the AP does next.
Not every outflow is a bearish bet
24/7 Wall St. notes that some redemptions come from hedge funds unwinding basis trades. In a basis trade, a fund holds ETF shares and shorts CME bitcoin futures to earn the price gap between them. Closing that trade produces an outflow that says nothing about the holder's view on price. Daily flow tables do not separate basis unwinds from other redemptions.
Why GBTC keeps showing up
GBTC was a trust before it became an ETF in January 2024. Since then, more money has left it than come in: about $28 billion net, according to 24/7 Wall St. The usual explanation is fees. 24/7 Wall St. cites a 1.5% fee for GBTC. BlackRock's fund page lists IBIT's sponsor fee at 0.25%.
How to read the daily flow numbers
- Compare a day against the week and the cumulative total. Weekly totals show the direction better than single days. On October 22 the day was −$635.6M while the week was +$442.7M.
- Check which funds moved. When one or two funds account for most of a day's outflows, you are looking at a few large holders, not broad selling. On October 22, IBIT and one other fund made up about 74% of the outflows.
- Expect totals to differ between trackers. SoSoValue, The Block and issuer pages publish at different times, and Friday figures often arrive the following week.
- Go to issuer pages for each fund's assets. BlackRock publishes IBIT's net assets daily with an as-of date.
