Institutional investors appear to have been spooked over rising tensions in the Middle East, with United States spot Bitcoin exchange-traded funds clocking almost $243 million in outflows.
The 11 US spot Bitcoin ETFs saw an aggregate outflow of $242.6 million on Tuesday, Oct. 1, according to data from Farside Investors. This was the largest outflow in almost a month, after Sept. 3 seeing $288 million leaving BTC ETFs.
It was also the third-largest outflow day over the past five months, reversing an eight-consecutive trading day trend of inflows that topped out at $494 million on Sept. 27.
The Fidelity Wise Origin Bitcoin Fund saw the largest outflow, $144.7 million, on Oct. 1, followed by the ARK 21Shares Bitcoin ETF, which lost $84.3 million.
The Bitwise Bitcoin ETF had an outflow of $32.7 million, while the VanEck Bitcoin ETF lost $15.8 million and the Grayscale Bitcoin Trust dropped $5.9 million.
There were zero flows for Invesco, Franklin, Valkyrie, WisdomTree, and Grayscale’s Mini Bitcoin Trust.
BlackRock iShares Bitcoin Trust was the only one to post positive flows, recording $40.8 million for the day — marking its 15th consecutive day of non-outflow.
Source: Farside Investors
Spot Bitcoin (BTC) prices plunged almost $4,000 in the wake of Iran’s missile attack on Israel on Oct. 1. The asset fell to a two-week low of $60,315 before recovering to $61,620 at the time of publication.
Related: Bitcoin tanks, gold rebounds as Israel vows Iran ‘will pay’ for attack
Meanwhile, the nine US spot Ether ETFs also registered a day of outflows, with an aggregate of $48.6 million exiting the products.
Grayscale’s Ethereum Trust continued to lead the bleed, shedding $26.6 million on Oct. 1. The Fidelity Ethereum Trust lost a similar $25 million, with the pair making up the bulk of the losses.
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