US Spot Bitcoin ETFs Suffer $487 Million Outflow Led by BlackRock's IBIT

U.S. spot Bitcoin exchange-traded funds recorded $487 million in net outflows on Oct. 7, abruptly snapping a brief recovery. The retreat was led by BlackRock's iShares Bitcoin Trust (IBIT), which registered $208 million in net redemptions, followed by Fidelity's FBTC with $105 million in withdrawals. The sharp downturn reduced cumulative net inflows across the ETF complex to $57.330 billion and lowered total net assets to $107.401 billion, or 6.41% of Bitcoin's market capitalization. The drop followed net inflows of roughly $119 million on Oct. 6, where IBIT had drawn $122 million.