Bitcoin ETFs Lose $635.6 Million in One Day, Erasing 59% of a Three-Day Inflow Run as Bitcoin Slides 3%

US spot Bitcoin ETFs saw $635.6 million of net outflows on October 22, the most since June 25, giving back 59% of the $1.07 billion that came in over the three prior sessions as Bitcoin fell 3.3%.

Oct 23, 2026 - 11:09

Bitcoin ETFs Lose $635.6 Million in One Day, Erasing 59% of a Three-Day Inflow Run as Bitcoin Slides 3%

Graphic-novel illustration of gold coins pouring out of three cracked glass fund vaults past a Bitcoin coin, with red downward arrows and a stock exchange facade behind

Published October 23, 2026 (Farside data for October 22, 2026).

Quick take

US spot Bitcoin ETFs lost a net $635.6 million on October 22, their largest daily outflow since June 25.
The exit erased 59% of the $1.07 billion that came in over the previous three sessions.
Bitcoin fell 3.3% on the day, even as the 10-year Treasury yield dropped below 5%.

US spot Bitcoin exchange-traded funds recorded $635.6 million of net outflows on Thursday, October 22, their worst day since June 25, according to daily figures compiled by Farside Investors.

The reversal came fast. From Monday to Wednesday, the same funds had taken in $1,074.7 million, including two sessions above $520 million. By BullishStation's count, Thursday's exit gave back 59% of that in a single day.

The timing matters. Only five days this year saw bigger exits, the largest being $817.8 million on January 29. Thursday's figure also cut the week's net inflows to $439.1 million over four sessions.

The selling was broad. BlackRock's iShares Bitcoin Trust (IBIT) lost $254.1 million and Fidelity's FBTC lost $217.5 million, its largest daily outflow since July 13. ARK 21Shares' ARKB shed $109.4 million, its worst day since September 10. Grayscale's GBTC lost $29.5 million and Bitwise's BITB $27.4 million. Only one fund, MSBT, took in money, at $2.3 million.

Prices moved with the flows. Bitcoin fell 3.3% over the UTC day, from $84,082 to $81,328, according to CoinGecko daily data. It traded near $81,700 on Friday at 08:55 UTC. Our Bitcoin ETF flows tracker keeps the fund-by-fund series.

Why falling yields did not help Bitcoin

This was not a rate shock. The 10-year Treasury yield fell 17 basis points to 4.96%, its first close below 5% since September 22, according to the Treasury's daily par yield curve. The 2-year yield dropped from 4.81% to 4.65%.

Lower yields usually ease pressure on Bitcoin, as our guide to Treasury yields and crypto explains. On Thursday, they signaled something else: investors buying bonds as a refuge while stocks and crypto fell together. In that chain, growth worries cut risk appetite, ETF holders redeem, and the spot price follows.

The Federal Reserve has not softened its message either. "Inflation remains elevated," the Federal Open Market Committee said in its September 16 statement, when it raised its target range to 3.75%–4.00% by a 12–0 vote. "The Committee will deliver price stability," it added. Our FOMC tracker lists every decision since September 2025.

The pressure was not limited to Bitcoin. US spot Ether ETFs lost $110.6 million on Thursday, including $75.5 million from BlackRock's ETHA, according to Farside's Ether table. By BullishStation's count, Ether funds have now lost about $1.18 billion in October, with inflows on only two of 16 sessions. That fits the slide we described in our ETH/BTC analysis.

One bad day in a flat year

History offers some perspective. Since their January 2024 launch, US spot Bitcoin ETFs have gathered $57.39 billion of net inflows. Yet 2026 has been far flatter: net inflows for the year stand at just $794 million, and October is negative at minus $175.6 million after 16 sessions.

The second half has been steadier than the first. Since July 1, the funds have averaged about $77 million of net inflows per session, by BullishStation's count from Farside data. That is a trickle next to the record single-day inflow of $1.37 billion. Earlier this month, a $484.9 million outflow on October 7, covered in our report at the time, was followed by fresh inflows within a week.

One day does not make a trend. Two dates will test it. The Fed's decision on Wednesday, October 28, at 2 p.m. ET will show whether policymakers still lean toward tightening. The October CPI report on Tuesday, November 10, will then show whether inflation is easing enough to change that path. For how flows feed into price, see our guide to Bitcoin ETFs.

Sources: Farside Investors, Bitcoin ETF flows (all-data table for history); Farside Investors, Ether ETF flows; US Treasury, daily par yield curve rates; Federal Reserve, FOMC statement of September 16, 2026; CoinGecko, Bitcoin price history.

This article is for information only and is not investment advice. Crypto assets are volatile and you can lose all of your capital. Flow data can be revised by fund issuers.