US Spot Bitcoin ETFs Shed $635M in One Day, Reversing Prior Day's Inflows
Spot Bitcoin ETFs saw $635.49 million in net outflows on October 22, a sharp swing from the $528.40 million added a day earlier, per DWF Labs research.
US spot Bitcoin exchange-traded funds recorded $635.49 million in net outflows on October 22, according to figures cited by BeInCrypto. The reversal came just one day after the same group of funds attracted $528.40 million in net inflows.
The scale of the withdrawal stands out because it occurred before Bitcoin's price had fallen to the level that research firm DWF Labs identifies as the point where ETF holders have historically sold most aggressively. In other words, the selling arrived earlier than the pattern that has previously accompanied deeper price declines.
Why the timing matters
ETF flow data is watched as a proxy for institutional demand. A single day of redemptions is not unusual, but a swing of more than $1.1 billion in net flows across two sessions points to fast-changing positioning among fund holders rather than a steady drift.
- October 21: +$528.40 million in net inflows
- October 22: -$635.49 million in net outflows
- Outflows occurred above DWF Labs' historical heavy-selling threshold
The data reflects flows rather than direct price causation, and daily figures can be revised. Broader market conditions, including price action and macro headlines around the same period, also shape how allocators move in and out of spot Bitcoin products.