Bitcoin ETFs lose $635 million in a day, the most since June; Bitcoin near $81,700 (Rs 2.26 crore)

US spot Bitcoin ETFs lost $635 million in net outflows on Thursday 22 October, the biggest one-day withdrawal since 25 June, Cointelegraph reported from SoSoValue data. The pull-out ended a three-day run that had brought in $1.08 billion and pushed October as a whole back into the red, at $175 million of net outflows for the month so far.

Bitcoin itself slipped about 1% over 24 hours to around $81,700, after touching $84,777 on Wednesday. On our Bitcoin data page, the 23 October reading is $81,706.76, about Rs 2.26 crore at the State Bank's rate of Rs 276.85 to the dollar (our arithmetic).

Bitcoin ETF flows this week

Thursday's outflow was not limited to Bitcoin. Ether ETFs lost about $111 million, Solana funds about $9 million and Hyperliquid funds about $8 million, while XRP funds took in about $3.6 million.

Why it matters

ETF flows are the clearest daily read on how big US investors feel about crypto, and a single outflow of this size usually signals profit-taking or a move out of risk. Markets have been jittery all week over the US-Iran confrontation, with US crude holding above $100 a barrel, CNBC reported; Cointelegraph did not tie Thursday's selling to any one cause. The week as a whole is still positive, so one bad day does not yet make a trend.

What it means in rupees

For context, Thursday's $635 million outflow alone equals about Rs 176 billion. For live readings and history, see the Bitcoin and Ether pages; to convert any amount, use our currency converter.

Elsewhere in crypto on Friday

HSBC launched RedCoin (RCHKD), a Hong Kong dollar stablecoin, inside its PayMe app, which has more than 3.3 million users, CoinDesk reported. Users can send it to friends and pay at more than 100,000 merchants. The Hong Kong Monetary Authority licensed HSBC as one of its first stablecoin issuers in April.

Crypto prices swing sharply; never put in money you cannot afford to lose.