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U.S. spot Bitcoin ETFs (exchange-traded funds) saw $366.6 million in outflows on Friday, extending their losing streak to a third day as investors turned away from risk amid renewed concerns about strains in credit markets.
The withdrawals followed capital outflows of $536 million the day before, the largest single-day net loss since August, amid falling appetite for risky assets as nervousness over U.S. regional banks rippled through markets.
This caused Bitcoin to fall to $103,598.43 in the last 24 hours, according to CoinMarketCap. It has since recovered to trade at $106,586.89 as of 12:41 a.m. EST, still down more than 2%.
THE Crypto Fear and Greed Indexa gauge of investor sentiment, plunged 29 points from last month to an “extreme fear” reading of 23.
BlackRock’s IBIT Leads One-Time Bitcoin ETF Exits
IBIT, the Bitcoin ETF offered by asset management giant BlackRock, saw the highest daily net outflows of the day. Data from Farside Investors shows that $268.6 million left the product in the last trading session.
IBIT remains the leader in terms of cumulative net inflows since the products launched last year, with $64.981 billion entering the fund since then.
US Bitcoin ETF feeds (Source: Distant investors)
Fidelity FBTC saw the second largest outflow yesterday at $67.4 million. Meanwhile, Valkyrie’s BRRR and Grayscale’s GBTC saw outflows of $5.6 million and $25 million, respectively.
The remaining funds saw no new flows that day.
With the latest daily net outflows, funds have now seen outflows of over $1 billion over the past three days.
Michael Saylor says volatility is a gift
As Bitcoin’s price falls, Strategy’s Michael Saylor says the crypto market’s volatility “is a gift to the faithful.”
Volatility is a gift to the faithful.
-Michael Saylor (@saylor) October 17, 2025
Strategy is currently the biggest business holder of Bitcoin, with 640,250 BTC on its balance sheet.
The company started buying BTC in 2020 and ended up pioneering the trend of digital asset treasury (DAT) companies. SaylorTracker data also shows that Strategy has an unrealized profit of over $20.9 billion on its balance sheet, even after the latest Bitcoin price correction.
Meanwhile, analyst Michael van de Poppe commented on the latest Bitcoin price drop and the correction seen across the entire crypto market. In an X message to his over 811.9k followers, the analyst said there was not much to worry about.
There’s not much to worry about.
The only thing you need to do, as the owner of your assets, is to be patient.
The 4 year cycle theory is dead. #Bitcoin would never be more than $100,000 without ETFs.
This means that we are still in the same shape.#Bitcoin break with…
– Michaël van de Poppe (@CryptoMichNL) October 17, 2025
He told his 811,000 followers there was “not much to worry about” and urged them to just “be patient”.
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