Bitcoin Funds Hit by Heavy Outflows Amid Rising Inflation Fears
U.S. spot Bitcoin ETFs recorded net withdrawals of $261.46 million as Bitcoin traded near $81,000 on October 14. Fidelity's FBTC and BlackRock's IBIT accounted for most of the outflows, while Bitwise's BITB saw a small inflow. September inflation came in at 3.7%, above forecasts, intensifying rate-hike worries and adding pressure to Bitcoin miners with AI infrastructure investments.
On October 14, U.S. spot Bitcoin ETFs saw $261.46 million in net redemptions while Bitcoin changed hands around $81,000. Fidelity’s FBTC lost $152.73 million and BlackRock’s IBIT lost $110.94 million; together they accounted for $263.67 million. Bitwise’s BITB attracted $2.22 million, partially balancing the total. Grayscale’s GBTC/BTC and ARK 21Shares’ ARKB showed no notable flows.
September U.S. inflation reached 3.7%, above the 3.6% estimate, partly due to Middle East-related fuel costs. Rate-hike odds for October briefly exceeded 50%. Bitcoin miners tied to AI infrastructure fell sharply: TeraWulf, Core Scientific, Cipher Mining, and IREN each dropped roughly 12%. Broader AI and equity selling also weighed on markets.
Count words? First para: On(1) October(2) 14(3), U.S.(4) spot(5) Bitcoin(6) ETFs(7) saw(8) $261.46(9) million(10) in(11) net(12) redemptions(13) while(14) Bitcoin(15) changed(16) hands(17) around(18) $81,000(19). Fidelity’s(20) FBTC(21) lost(22) $152.73(23) million(24) and(25) BlackRock’s(26) IBIT(27) lost(28) $110.94(29) million(30); together(31) they(32) accounted(33) for(34) $263.67(35) million(36). Bitwise’s(37) BITB(38) attracted(39) $2.22(40) million(41), partially(42) balancing(43) the(44) total(45). Grayscale’s(46) GBTC/BTC(47) and(48) ARK(49) 21Shares’(50) ARKB(51) showed(52) no(53) notable(54) flows(55). Second: September(56) U.S.(57) inflation(58) reached(59) 3.7%(60), above(61) the(62) 3.6%(63) estimate(64), partly(65) due(66) to(67) Middle(68)
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