Bitcoin institutional investors have recently halted buying as BTC price action consolidates.
According to data from sources such as British investment company Farside Investors, inflows into U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) turned net negative for the first time in two weeks.
Bitcoin ETF interest cools with BTC price.
Despite BTC/USD hovering within 10% of its all-time highs, BTC price action is already taking a toll on institutional demand.
U.S. ETF inflows turned net negative on October 22, down a total of $79.1 million on the day.
The “red” daily tally comes from one ETF product, the ARK 21Shares Bitcoin ETF, which recorded outflows of $134 million. The rest is either inflow or inactive, Farside shows.
BlackRock’s iShares Bitcoin ETF (IBIT), the largest ETF by assets under management, managed inflows of $43 million, still significantly down from $329 million a day earlier.
“Price is going sideways around $67,000,” commentator WhalePanda wrote in some of his ongoing coverage of X’s movements.
US spot Bitcoin ETF Netflow (screenshot). Source: Farside Investors
The last time a U.S. ETF ended a day with net negative flow was on October 10, when it lost $81.1 million.
ETFs are one of the “biggest stories” in the cryptocurrency market
As Cointelegraph reported, ETFs have enjoyed a broad renaissance over the past month.
relevant: Bitcoin price needs to peak above $69,000 ‘midweek’ due to surge in US dollar
As of October 18, institutional ETF ownership stood at around 20%, according to data uploaded to
“Thanks to spot ETFs, 1,179 institutions joined Bitcoin Cap this year,” Ki added.
U.S. Spot Bitcoin ETF Institutional Ownership. Source: Ki Young-ju/X
In addition to domestic demand, European investors have allocated more than $100 million to U.S. products to date.
Last week, net inflows topped $20 billion for the first time, and total assets under management hit a record $65 billion.
A recent study released jointly by Coinbase, the largest U.S. exchange, and on-chain analytics firm Glassnode called the ETF’s success “one of the biggest stories in the market.”
“In the third quarter, U.S.-based Bitcoin ETFs recorded net inflows of more than $5 billion, supporting strong demand for direct exposure to Bitcoin among institutional investors,” it said.
“These ETFs have become a key driver of liquidity and accessibility, making it easier for a broad range of market participants to gain exposure to Bitcoin without the complexities of direct ownership.”
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