Bitcoin institutional investors have paused their latest buying spree as BTC price action consolidates.
Inflows to the US spot Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) exchange-traded funds (ETFs) turned net negative for the first time in two weeks, according to data from sources including UK-based investment firm <a data-ct-non-breakable="null" href="https://farside.co.uk/btc/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Farside Investors</a>.
<h2 id="bitcoin-etf-interest-cools-with-btc-price">Bitcoin ETF interest cools with BTC price</h2>
BTC price action is already taking its toll on institutional demand — even as BTC/USD hovers within 10% of all-time highs.
US ETF inflows flipped net negative on Oct. 22, on aggregate down $79.1 million for the day.&nbsp;
The “red” daily tally came courtesy of one ETF product, the ARK 21Shares Bitcoin ETF, which had outflows of $134 million. The remaining products saw either inflows or no activity, Farside shows.
The largest ETF by assets under management, BlackRock’s iShares Bitcoin ETF (IBIT), managed $43 million of inflows — still considerably lower than the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/blackrocks-ibit-leads-spot-bitcoin-etfs-with-329-million-inflow-day" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/blackrocks-ibit-leads-spot-bitcoin-etfs-with-329-million-inflow-day">$329 million a day prior</a>.
“Price just going sideways around $67k,” commentator WhalePanda <a data-ct-non-breakable="null" href="https://x.com/WhalePanda/status/1848941694177206477" rel="noopener noreferrer nofollow" target="null" text="null" title="null">wrote</a> in part of ongoing coverage of the flows on X.
<figure><img alt="Bitcoin ETF $79M outflow ends 2-week bull run amid 'sideways' BTC price" src="https://s3.cointelegraph.com/uploads/2024-10/0192b84e-e335-7775-a643-e8847a33dc5c" title="">
 <figcaption style="text-align: center;">
 US spot Bitcoin ETF netflows (screenshot). Source: Farside Investors
 </figcaption>
</figure>
The last time that the US ETFs ended a day with net negative flows was on Oct. 10, when they shed $81.1 million.
<h2 id="etfs-one-of-crypto-markets-biggest-stories">ETFs one of crypto markets’ “biggest stories”</h2>
As <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/556m-spot-bitcoin-etf-inflows-investors" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/556m-spot-bitcoin-etf-inflows-investors">Cointelegraph reported</a>, the ETFs have enjoyed a broad renaissance over the past month.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-price-needs-new-high-above-69k-us-dollar" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-price-needs-new-high-above-69k-us-dollar">Bitcoin price needs new high above $69K ‘mid-week’ as US dollar surges</a>
Data <a data-ct-non-breakable="null" href="https://x.com/ki_young_ju/status/1848689728423661875" rel="noopener noreferrer nofollow" target="null" text="null" title="null">uploaded</a> to X this week by Ki Young Ju, co-founder of onchain analytics platform CryptoQuant, revealed that as of Oct. 18, institutional ETF ownership is now about 20%.
“Thanks to spot ETFs, 1,179 institutions have joined Bitcoin’s cap table this year,” Ki added.
<figure><img alt="Bitcoin ETF $79M outflow ends 2-week bull run amid 'sideways' BTC price" src="https://s3.cointelegraph.com/uploads/2024-10/0192b851-7ca5-75ac-ae9d-a51db6300e3f" title="">
 <figcaption style="text-align: center;">
 US spot Bitcoin ETF institutional ownership. Source: Ki Young Ju/X
 </figcaption>
</figure>
In addition to domestic demand, European investors have <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/european-investors-record-105b-us-bitcoin-etfs" rel="noopener noreferrer nofollow" target="null" text="null" title="null">allocated over $100 million</a> to the US products year-to-date.
Last week, net inflows crossed the $20 billion milestone for the first time, with total assets under management hitting a <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/btc-price-break-7-month-slump-bitcoin-etfs-hit-65b" rel="noopener noreferrer nofollow" target="null" text="null" title="null">record $65 billion</a>.
In <a data-ct-non-breakable="null" href="https://insights.glassnode.com/glassnode-coinbase-q4-2024-crypto-markets-guide/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">recent research</a> published in conjunction with the largest US exchange, Coinbase, onchain analytics firm Glassnode called the ETFs’ success “one of the biggest stories in the market.”&nbsp;
“In Q3, US-based Bitcoin ETFs saw over $5 billion in net inflows, underscoring the strong demand for direct exposure to Bitcoin among institutional investors,” it said.&nbsp;
<blockquote>
 “These ETFs have become key drivers of liquidity and accessibility, making it easier for a broader range of market participants to gain exposure to Bitcoin without the complexities of direct ownership.”
</blockquote>
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin ETF $79M outflow ends 2-week bull run amid 'sideways' BTC price

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