BeInCrypto • October 9th 2026, 10:35 AM
Bitcoin Returns to ETF Holders’ Breakeven Price, and $729 Million Heads for the Exit
Key Summary
US spot Bitcoin exchange-traded fund (ETF) investors sold $729 million worth of coins over two sessions, with the selling hitting just as Bitcoin returned to their estimated breakeven price. The selling is concentrated in specific investor bases, with Fidelity's Wise Origin Bitcoin Fund (FBTC) alone losing more than the entire market. The average US spot Bitcoin ETF holder paid $81,722 per coin, and the selling is a familiar behavioral pattern among investors who sat through months of losses.
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Bitcoin ETF Holders Sell at Breakeven, Exiting $729 Million Worth of Coins
Market Analysis
US spot Bitcoin exchange-traded fund (ETF) investors pulled $729 million over two sessions this week. The selling hit just as Bitcoin returned to the funds' estimated average entry price, suggesting holders are treating breakeven as an exit door. The headline figure hides a sharp split, however. BlackRock's iShares Bitcoin Trust (IBIT) remains a net buyer in October, while Fidelity's Wise Origin Bitcoin Fund (FBTC) alone has lost more than the entire market.Fund-Level Data
Fund-level data tells a narrower story than the headline total. Farside figures for Oct. 1 to Oct. 8 show the outflows concentrated in a handful of issuers. FundNet flow, Oct. 1 to 8Fidelity FBTC – $408.1 millionARK 21Shares ARKB – $214.9 millionGrayscale GBTC – $78.9 millionBitwise BITB – $52.2 millionBlackRock IBIT + $332.5 millionAll US spot Bitcoin ETFs – $407.4 millionBroader Market Implications
The pressure also extends beyond Bitcoin. US spot Ethereum ETFs have now logged eight straight sessions of outflows, losing $641.3 million since Sept. 29, per Farside. The broader test is whether these funds can attract new buyers once breakeven no longer offers an easy exit.#Bitcoin#US#ETF#SEC