Institutional outflows continue. On October 8, U.S. spot Bitcoin ETFs experienced another net outflow of approximately $244 million, following a large outflow on the 7th—marking two consecutive days of withdrawals. This time, the main outflow came from Fidelity’s FBTC, with around $197 million exiting in a single day. ARKB withdrew about $20 million, BITB roughly $18 million, and GBTC approximately $8 million. BlackRock’s IBIT saw a much smaller outflow of only about $5.5 million, significantly lighter than the previous day. The only ETF with inflows that day was Franklin’s EZBC, at roughly $4.7 million. Combined, the two-day outflows exceed $700 million—until this capital flight stops, the trend remains concerning.