US Spot Bitcoin ETFs Pull Back as BlackRock Leads $82 Million Outflow

United States spot Bitcoin exchange-traded funds recorded about $82.4 million in net withdrawals on October 16, reversing the prior day's brief rebound. The selling was heavily concentrated in BlackRock's iShares Bitcoin Trust (IBIT), which pulled back $71.8 million during the session. Fidelity's Wise Origin Bitcoin Fund (FBTC) registered $10.6 million in redemptions, while other spot funds finished mostly unchanged.

The latest capital flight caps an unstable week for spot crypto products, coming shortly after a $261 million daily exit on October 14. Because BlackRock's flagship fund serves as a primary benchmark for traditional investor participation in crypto, heavy redemptions there highlight ongoing hesitancy among institutional participants. Even so, overall cumulative net inflows across the category remain large since these investment vehicles first launched, and daily outflows have hit nearly $485 million earlier in the month.

Market participants will be tracking upcoming trading sessions to see whether inflows resume or if redemptions persist. Sustained exits from major offerings like IBIT and FBTC could indicate broader institutional risk reduction, whereas a swift recovery would signal another temporary pause in long-term allocations.