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The 11 funds recorded $536.4 million in net outflows, marking the sharpest single-day capital flight since August 1.
Ark $ 21Shares’ ARKB suffered the largest outflow with $275.15 million exiting, while Fidelity’s FBTC posted $132 million in withdrawals, and Grayscale’s converted GBTC product witnessed $45 million flee, according to SoSoValue data. Spot ETFs managed by BlackRock, Bitwise, VanEck, and Valkyrie also saw capital exodus.
Ether ETFs Also Bleed Millions
Spot Ethereum ETFs also registered $56.8 million in net outflows on Thursday, ending the positive inflow streak witnessed in the previous two trading days. Grayscale’s ETHE suffered the largest single-day outflow with $69 million exiting on Oct. 16, while Bitwise’s ETHW saw $15.8 million flee.
The dwindling demand comes as markets continue to nurse losses after President Donald Trump posted on Truth Social that he would impose 100% tariffs on all Chinese imports, responding to Beijing’s threat to cut off exports of rare earth minerals, which are vital to U.S. technology manufacturing. The surprise announcement sparked the biggest liquidation event on record, with $19 billion in leveraged positions wiped out within 24 hours.
 
While Bitcoin recovered to around $115,000 earlier this week after Trump seemingly tried to de-escalate the tariff war, tensions continue. Crypto prices extended their corrections today, with BTC, the leading cryptocurrency by market value, plummeting to as low as $103,856 in the past day.
Meanwhile, Ethereum blockchain’s native token, Ether, fell 1.9% to $3,829 alongside bigger losses in the altcoin market, according to CoinGecko data.