Bitcoin ETFs Shed $635M and Turn October Negative a Second Time

US spot bitcoin funds lost $635 million on Thursday, their worst session since 25 June, and October's net flow went back under zero. SoSoValue's figure, carried by Cointelegraph and crypto.news early on Friday, leaves the month at minus $175 million with five sessions to run. Bitcoin traded at $81,569 at 06:21 UTC on Friday, under the band it held the day before. It is the second time this month the funds have given back everything October brought in.

One session, one provider, several decimals

The headline number belongs to one flow provider and everyone who carried it rounded it differently. crypto.news gives $635.49 million, Cointelegraph's page metadata says $635.5 million and its own body says $635 million, TokenPost says $635.6 million. That is rounding. Wednesday is not. crypto.news and The Crypto Times both put Wednesday's inflow at $528.4 million from SoSoValue, while TokenPost and 99Bitcoins give $524.8 million for the same session. The $3.6 million gap carries straight into the three-session total, reported as $1.08 billion by Cointelegraph and crypto.news and about $1.07 billion by 99Bitcoins. We could not establish which Wednesday figure supersedes the other. They do not reconcile.

Where the money left from

BlackRock's IBIT took the largest share, and two providers agree on how large. SoSoValue, relayed by PANews, and Farside, relayed by BlockBeats, both put IBIT's Thursday outflow at $254 million, its biggest single day, against $66.24 billion of cumulative net inflow since launch. Farside's breakdown adds $217 million out of Fidelity's FBTC and $109 million out of ARK's ARKB. Neither of those has a second account and both stand unverified. Morgan Stanley's MSBT is the only fund named on the other side of the ledger, at $2.33 million in. Ether funds lost about $110 million the same day, $75.5 million of it from BlackRock's ETHA. Solana and Hyperliquid products shed single-digit millions, and XRP funds took in $3.6 million.

Four clocks, four liquidation totals

The derivatives figures for the same stretch look contradictory and mostly are not. CoinGlass publishes a rolling 24-hour tally, and four outlets read it at four different times. The Crypto Times took $458.05 million at 17:15 UTC on Thursday, longs at 91.2%, more than 103,000 accounts closed out. Altcoin Buzz took $332.79 million at about 01:30 UTC on Friday, longs 83.4%, 80,154 accounts. crypto.news took about $406.27 million at 07:15 UTC. TokenPost's $431 million is the awkward one. It was published at 06:28 UTC, credited to no provider, and sits 54 minutes ahead of the crypto.news reading while running $25 million larger. A rolling window can shrink, but only by dropping more than it picks up. Those two do not reconcile. All four accounts say the totals cover the whole market and not bitcoin alone.

"Retail traders are gone from BTC futures markets, the exact opposite of what we saw at the top," Ki Young Ju, the chief executive of CryptoQuant, wrote on Thursday.

The week still closed green

Flows across the five sessions stayed positive. Cointelegraph puts the week at $443 million in, ending two consecutive weeks of outflows, and no second account carried that tally at the time of writing. Bitcoin's Friday range sat narrow against the week's: a low near $80,989 on the day, Wednesday's high at about $84,777, and a rejection close to $85,000 before the turn. Ki Young Ju published no figures with his chart, which sorts futures trades by average order size. The whale activity 99Bitcoins reads into a July low near $58,000 rests on that single account. Friday's own flow data had not been published when this went out, so whether October closes negative depends on sessions that have not traded yet.