U.S. Spot Bitcoin Funds See $635.6 Million in Outflows on Oct. 22

Key Facts

U.S.-listed spot bitcoin funds recorded net outflows of $635.6 million on Oct. 22, 2026, after attracting $524.8 million in the previous session, according to Farside Investors data. The one-day reversal erased more than the inflows recorded on Oct. 21 and ended a run of strong sessions for the funds. Outflows continued the following day but at a slower pace, reaching $137.9 million on Oct. 23. The funds therefore saw $773.5 million withdrawn over the two sessions, after adding $1,074.7 million in the three sessions from Oct. 19 to 21. Even so, net flows over the five sessions remained positive at $301.2 million, according to calculations cited by crypto.news.

IBIT led outflows on Oct. 22, with $254.1 million withdrawn, followed by FBTC with $217.5 million, according to Farside's table. ARKB saw outflows of $109.4 million, while $27.4 million left BITB and $29.5 million left GBTC. In the opposite direction, MSBT attracted $2.3 million in inflows in the same session. The divergence in flows among funds continued on Oct. 23: IBIT recorded $110.3 million in outflows and FBTC $31.8 million, while MSBT took in $4.2 million. The figures show that the overall net outflow coincided with continued inflows into some products, even as the funds' combined daily total remained negative.

The outflows followed inflows across the three sessions from Oct. 19 to 21, totaling $1,074.7 million, according to crypto.news. Outflows on Oct. 22 and 23 did not erase all of those inflows, with the five sessions ending at a net inflow of $301.2 million. That total places the sharp daily reversal within a mixed weekly flow pattern, rather than a net outflow across the entire period. Cumulative net flows for the funds listed in Farside's table also reached about $57,251 million through Oct. 23, 2026. The cumulative figure reflects flows into the funds since their launch and does not represent their assets under management.

The shift in flows coincided with a decline in EL7's bitcoin closing-price data, from $84,093.42 on Oct. 21 to $81,416.09 on Oct. 22. On Oct. 23, the price rose 0.3% to $81,970 at 09:49 Eastern time and remained within a trading range of $80,000 to $87,000 over the previous month, according to Investing.com. The report linked weaker risk appetite to broad selling in technology stocks, concerns about higher interest rates and the sustainability of AI valuations, as well as rising oil prices, and said the pressure extended to the cryptocurrency market. The price decline coincided with fund outflows, but flows alone do not establish whether the corresponding value was immediately sold on the spot market. crypto.news noted that one investor selling a fund share to another does not necessarily change the fund's holdings or mean bitcoin changed hands at that moment.

Flows should be considered separately from trading in fund shares between investors and from redemptions, since the figures alone do not reveal the mechanics of each transaction. crypto.news explained that an investor can sell a fund share to another investor without changing the fund's coin holdings, so reported outflows are not a direct measure of how much bitcoin was sold in the market. In the monetary-policy context, the Federal Reserve raised its target interest-rate range by a quarter of a percentage point to 3.75%–4% on Sept. 16 and said inflation remained elevated. This comes ahead of the Federal Open Market Committee meeting scheduled for Oct. 27 and 28, 2026. The press conference is scheduled for Oct. 28, according to the Federal Reserve calendar.