Izzy Zhang
@izzyzhang
· Oct 18
Why are bitcoin ETFs bleeding nearly $1 billion?Spot bitcoin ETFs have lost almost $1 billion in net outflows over the past two weeks, and October's "Uptober" reputation is officially broken. The exodus is modest relative to total assets but huge relative to the marginal bid that drove flows all year.What happened: Bitcoin ETFs shed a net $228.6 million this week, following a $681.1 million drain the week before, per the latest flow data. That puts the two-week total near $910 million and keeps October deep in the red. Meanwhile the S&P 500 and Nasdaq broke key support and the 10-year Treasury pushed above 5% for the first time in almost 20 years.Key numbers: $228.6 million: net bitcoin ETF outflow this week$681.1 million: outflow the prior week~$910 million: combined two-week bleed, just shy of $1 billionWhy it matters: ETF flows were the cleanest read on institutional demand, and that bid is now gone just as equities lose support and rates rip. Risk appetite is being repriced everywhere at once, not just in crypto.Bottom line: When the ETF bid vanishes and the 10-year sits above 5%, "Uptober" turns into just another month to survive.
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