The outflow has reversed an eight-day trend of consecutive inflows totaling $1.4 billion.
Institutional investors appear to have been spooked over rising tension in the Middle East, with United States spot Bitcoin exchange-traded funds clocking almost $243 million in outflows.
The eleven US spot Bitcoin ETFs saw aggregate outflows of $242.6 million on Tuesday, Oct. 1, according to data from Farside Investors. This is the largest outflow for almost a month, with Sept. 3 seeing $288 million leaving BTC ETFs.
It is also the third-largest outflow day over the past five months, reversing an eight-consecutive trading day trend of inflows that topped out at $494 million on Sept. 27.
