US Spot Bitcoin ETFs Suffer $729 Million Two-Day Outflow as Price Hits Breakeven

U.S. spot Bitcoin exchange-traded funds recorded $729 million in total net outflows across October 7 and October 8 as Bitcoin dropped 2.2% to $81,607, testing the estimated average investor cost basis of $81,722. The sharp retreat followed a positive session on October 6, when funds gathered around $119 million led by BlackRock's IBIT. On October 7 alone, the ETF group shed up to $487.1 million—the largest single-day withdrawal since June 25—led by roughly $208 million from IBIT and $105 million from Fidelity's FBTC, followed by another $244.1 million in redemptions on October 8.