U.S. Bitcoin Funds Record $635.6 Million in Outflows on Oct. 22
Key Facts
U.S.-listed Bitcoin funds recorded net outflows of $635.6 million on Oct. 22, 2026, according to Farside Investors data. The move came one day after $524.8 million flowed into the funds, marking a clear reversal in the direction of flows between the two sessions. On Oct. 23, available data showed net outflows of $137.9 million. The figure published for that day did not include flows for VanEck HODL, whose field appeared as a dash in the table. The moves coincided with the release of U.S. inflation data that came in above economists' expectations, though sources did not establish a causal link between the data and the funds' outflows.
BlackRock's IBIT and Fidelity's FBTC led the outflows recorded on Oct. 23, with net withdrawals of $110.3 million and $31.8 million, respectively, according to Farside data. By contrast, Morgan Stanley's MSBT recorded an inflow of $4.2 million in the same session. The figures show differing flows across products, even as overall net flows moved into outflow territory. VanEck HODL's figure for that day was unavailable in the public table, meaning the published total did not include a reported figure for the fund. The funds had taken in $524.8 million on Oct. 21 before $635.6 million flowed out the following day, underscoring how quickly flows shifted during this period.
The U.S. consumer price index rose 0.6% in September from a month earlier, after a 0.4% increase in August, the Bureau of Labor Statistics said. On an annual basis, the index rose 3.7% in the 12 months through September, compared with a 3.4% increase in the period through August. The annual reading exceeded the 3.6% increase forecast by economists polled by Reuters. The core index, which excludes food and energy, also rose 0.3% in September and 2.6% year over year, after an annual increase of 2.4% in August. The annual inflation reading was therefore higher than the previous month's and above expectations, while the funds' moves remained events that coincided with it, with no proven causal link.
Higher gasoline prices were among the biggest contributors to the monthly reading, with the index rising 9.1% in September and accounting for more than half of the monthly increase in the overall index, according to the Bureau of Labor Statistics. The energy index rose 5.2% in the same month. After the inflation data was released on Oct. 14, Reuters reported that futures priced in a roughly 49% chance of rates remaining in a range of 3.75% to 4% at the October meeting, compared with 19% before the report. In the day's market reaction, the yield on the 2-year U.S. Treasury note rose 13 basis points to 4.92%. The dollar index also gained 0.55% to 102.75, according to the same report.
In crypto markets, Reuters reported on Oct. 23 that Bitcoin fell 0.7% to $81,909 and remained within a trading range of $80,000 to $87,000 that had persisted, according to the report, over the previous month. The report linked pressure on crypto assets to a sell-off in technology stocks, concerns about higher interest rates and the sustainability of artificial intelligence spending, as well as rising oil prices. In the Oct. 22 session, the Nasdaq Composite fell 2.6%, its worst daily performance since June, while the S&P 500 declined 1.2%, according to the Associated Press. Available Bitcoin closing data show prices of $81,416.09 on Oct. 22, $81,189.43 on Oct. 23 and $80,532.79 on Oct. 24. These figures show price movements on the same days as the funds' outflows, without establishing that fund flows caused the price changes.
Markets are turning their attention to the Federal Open Market Committee meeting scheduled for Oct. 27 and 28, 2026, according to the Federal Reserve calendar. An economic calendar published by Kiplinger on Oct. 23 said futures were pricing in an 88% chance that the central bank would leave interest rates unchanged at the meeting. The calendar also lists durable goods orders and new home sales for Oct. 27. The September personal consumption expenditures index is due on Oct. 29, according to the same calendar. Minutes from the committee's October meeting are expected to be released on Nov. 18, according to the Federal Reserve calendar.