Spot bitcoin ETFs bleed $635M in a day, BlackRock's IBIT leads with $254M outflow
- —US spot bitcoin ETFs posted $635 million in net outflows on October 22
- —BlackRock's IBIT lost $254 million; its lifetime inflows stand at $66.24 billion
- —Morgan Stanley's MSBT was the sole gainer, taking in $2.33 million
- —ETF net assets total $104.7 billion, equal to 6.41% of bitcoin's market cap
Why it matters: Outflows from the largest bitcoin fund point to weakening institutional demand and add pressure on BTC near $81,000.
Source: PANews