US spot Bitcoin exchange-traded funds had $484.9 million in net outflows on Wednesday, according to Farside Investors. That was the biggest single-day withdrawal since June 25, when the funds lost $691.7 million.
On Tuesday, the same funds took in a net $118.8 million. Wednesday's withdrawals reversed that gain and wiped out all of the net inflows the funds had collected so far in October.
Ether funds also lost money. Wednesday was their seventh outflow session in a row. The report does not say which funds had the largest withdrawals or why investors pulled out.
For someone already holding a perpetual position on Bitget, Bybit, MEXC or OKX, this news changes nothing directly. ETF flows are money moving in and out of US spot funds. The report says nothing about funding rates, trading fees or perp liquidity on these exchanges, and no link between the two is known from this story.
Source: cointelegraph — US Bitcoin ETFs shed $485M in biggest daily outflow since June