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News · Oct 10, 2026 · 4 min read

Bitcoin today: ETFs lose $731 million in two days as Thailand opens the door to its own

Bitcoin held about $82,500 after Thursday's low near $80,300, but the US spot ETFs have now lost $731 million in two days. Ledger is investigating reports of $86 million stolen from wallets sold by one reseller, and MARA moved 996 bitcoin to Galaxy Digital.

Firsthand card: "Bitcoin today: ETFs lose $731 million in two days as Thailand opens the door to its own"

The US bitcoin ETFs lost $731 million in two days

The US spot bitcoin ETFs lost about $244 million on Thursday 8 October, after about $485 million on Wednesday, a two-day total of roughly $729 million, CoinDesk reported from SoSoValue data. Ether funds lost another $73 million. XRP funds were the only crypto ETF group to take money in, about $8 million.

Our ETF flows chart has the two days at $487.1 million and $244.1 million out, $731.2 million together. That turns October negative: the funds are down $409.7 million for the month through 8 October, after $2.65 billion came in over September. Their combined holdings fell from 1,281,518 bitcoin on 1 October to 1,278,268 on 8 October.

Two days, $731 million out, and the month has turned negative.

Chart: Net flow into the US spot bitcoin ETFs every trading day since mid-August. The two red bars on the right are 7 and 8 October. Open the chart

Bitcoin steadied near $82,500 after Trump ruled out an Iran strike

Bitcoin fell to about $80,300 on Thursday, then recovered to around $82,500 after President Trump said the US would not attack Iran before the 3 November midterm elections, CoinDesk reported. Brent crude eased about 1% to around $103 a barrel.

Our price series reads $82,562 this morning, 3.7% below its $85,771 close on 6 October. The same report put liquidations at $1.09 billion over 24 hours, 85% of it longs. On our liquidations chart bitcoin longs force-closed on 8 October came to $272.4 million, against $31.5 million of shorts.

Leverage is not stretched. CoinDesk, citing Coinalyze, had futures open interest at $27.1 billion and funding at about 5% a year, and our funding chart reads about 1.2% a year this morning.

Chart: Bitcoin futures positions force-closed each day: shorts above the line, longs below. The 8 October bar is the biggest for longs since late June. Open the chart

Ledger is investigating reports of $86 million stolen

Ledger said on Friday it is investigating reports of stolen funds, CoinDesk reported. The pseudonymous investigator Specter posted that more than $86 million may have been taken from hundreds of wallets across Bitcoin, Ethereum and Tron. No independent party has confirmed the figure.

The reports trace to customers of CryptoBilis, a reseller in Southeast Asia. Ledger asked it to pause all sales and shipments, and advised anyone who bought through it in the past 90 days not to set their device up. Ledger has not confirmed a cause, and CoinDesk noted there is no confirmed compromise of Ledger’s own systems.

The lesson holds either way: a wallet’s recovery phrase should be generated by you, on a device that came from the maker or a source you can trust.

Thailand will list bitcoin and ether ETFs from 16 October

Thailand’s securities regulator issued rules on Thursday that let local asset managers create ETFs tracking bitcoin or ether, CoinDesk reported. They take effect on 16 October and the funds must trade on the Stock Exchange of Thailand.

Each fund must track a single coin, with at least 80% of its net asset value in it, and hold it with custodians regulated by the Thai SEC. Brokers cannot lend clients money to buy crypto. Bitcoin and ether are the only coins eligible at first.

MARA moved 996 bitcoin to Galaxy Digital

MARA Holdings moved about 996 bitcoin, worth $81.1 million, to an address belonging to Galaxy Digital, CoinDesk reported, after the on-chain tracker Lookonchain flagged it. The transfer does not confirm a sale, and MARA has made no statement on it.

The miner has been moving towards AI and high-performance computing. According to Bitcoin Treasuries data cited by CoinDesk, its holdings fell from 53,822 bitcoin in February to 35,577 in August.

What it means for miners

ETF selling moves the price a coin sells for. It does not change how many a machine mines. Hashprice is $39.36 per petahash a day this morning, from $40.85 on 6 October, and our difficulty page estimates the next adjustment, in about seven days, at +3.4%, which would trim the coins a petahash earns by about 3%.

On today’s hashprice the most efficient machine in stock on our cheapest power, the Bitmain Antminer S23 XP Hyd at 8.9 J/TH in Nigeria at 3.9¢ a kilowatt-hour, makes a coin for about $17,900 of electricity, against $82,562 to buy one. A miner who keeps the coins owns the ones the market is selling. Output is never guaranteed.

A coin made for about $17,900 of electricity, against $82,562 to buy one.

Sources and further reading

Disclosure

Firsthand Bitcoin sells and hosts mining hardware, including this machine. No manufacturer, distributor or affiliate programme paid for or reviewed this page and we take no commission on the links above. Historical figures are computed from daily bitcoin price and network hashprice, each day valued at its own prices. Nothing here is investment advice.