Overview:
US spot Bitcoin ETFs recorded USD 65.40 million in net outflows, while Strategy acquired 250 BTC for approximately USD 21.5 million.
A UK High Court ruled that Chinese law applies to claims over 61,000 seized BTC.
Metaplanet announced plans to raise approximately USD 340 million through zero-interest convertible bonds to repay Bitcoin-backed loans and fund share repurchases.
The crypto market saw major developments as spot Bitcoin ETFs recorded USD 65 million in net inflows. Meanwhile, Strategy bought 250 BTC after pausing its accumulation strategy for a short period. UK High Court ruled that Chinese law governs seized BTC, and Bitmine’s Tom Lee said the KOSPI slump could hit the cryptocurrency market.
Bitcoin Witnessed USD 65 million in Outflows
According to SoSoValue, the Bitcoin spot ETF saw a total net outflow of USD 65.40 million yesterday.
The Bitcoin Spot ETF with the highest net outflow yesterday was BlackRock's ETF IBIT, with a daily net outflow of USD 65.40 million, and the total historical net inflow of IBIT currently stands at USD 65.67 billion.
The total net asset value of Bitcoin Spot ETFs is USD 106.06 billion, with an ETF net asset ratio of 6.35%. The historical cumulative net inflow has reached USD 57.04 billion.
UK High Court Rules Chinese Law Governs Seized BTC
A UK High Court judge has ruled that Chinese law must be used to decide whether victims of a multibillion-dollar investment fraud have rights to more than 61,000 BTC seized by London's Metropolitan Police.
Mr Justice Mark Turner handed down the judgment on Monday. The case concerns investors who lost money in Ponzi schemes run by Zhimin Qian in China between 2014 and 2017. During the hearing in July, the victims’ lawyers wanted the High Court to apply English law, or a combination of English and Chinese law, to their claims, while prosecutors argued for Chinese law.
The Bitcoin was bought using proceeds from the fraud before Qian fled China for Myanmar in July 2017. Some was purchased through a Huobi (now HTX) trading account, while other purchases took place through over-the-counter transactions in China.
Also Read: Dormant Bitcoin Wallets Explained: On-Chain Tracking, Ownership Limits, and Privacy
Strategy Bought 250 BTC
Strategy, the world’s largest corporate holder of Bitcoin (BTC), announced on October 12 that it purchased 250 BTC between October 5 and 11, marking its fourth consecutive week of acquisitions. In the same week, the company spent USD 192.4 million repurchasing its own STRC preferred shares, nearly nine times more than it spent on Bitcoin.
Strategy spent approximately USD 21.5 million, including fees and other expenses, on the latest purchase, at an average of USD 86,194 per Bitcoin.
As of October 13, the company held 848,250 BTC. Its cumulative investment, including fees and expenses, was approximately USD 64 billion, at an average price of USD 75,444 per Bitcoin.
Tom Lee Warns KOSPI Slump Could Hit Crypto
Tom Lee warned on October 13 that South Korea’s stock market sell-off could spill into crypto as falling equities trigger brokerage margin liquidations and pressure investors who hold digital assets. His warning came as the KOSPI extended its losses, Bitcoin fell to USD 81,000 before recovering, and leveraged crypto traders suffered hundreds of millions of dollars in liquidations.
“This major decline in Korean equities likely spilling into crypto,” Lee wrote in a post on X, pointing to two potential channels: margin liquidations in brokerage and the fact that Koreans are major crypto holders. He summed up the near-term risk in two words: ‘Short-term pain.’
The sell-off intensified during Tuesday’s Asian trading session, with the Korea Exchange triggering a five-minute sidecar, temporarily restricting program selling after the KOSPI fell 5%. Losses in South Korean equities hit around USD 150 billion as the index dropped 4.5% within minutes.
Metaplanet Seeks Capital to Repay Bitcoin Loans
Japanese Bitcoin treasury company Metaplanet announced plans to issue JPY 52 billion, approximately USD 340 million, in zero-interest convertible bonds due in 2031. It will use the funds to repay Bitcoin-backed loans and finance share repurchases.
Metaplanet disclosed the financing plan in an October 13 filing with the Tokyo Stock Exchange, following a decision by CEO Simon Gerovich under authority granted by its board.
The company expects to receive approximately JPY 51.9 billion in net proceeds, allocating JPY 23.6 billion toward debt repayment and up to JPY 28.3 billion for share buybacks. The bonds are scheduled for issuance on October 29, 2026.
Also Read: Verification of Ethereum Transactions by Means of Execution Rules
FAQs:
1. How much money flowed out of Bitcoin spot ETFs?
US spot Bitcoin ETFs recorded USD 65.40 million in net outflows, according to SoSoValue. BlackRock's IBIT accounted for the reported withdrawals, while total Bitcoin ETF net assets stood at USD 106.06 billion.
2. How much Bitcoin did Strategy purchase in October 2026?
Strategy purchased 250 BTC between October 5 and 11 for approximately USD 21.5 million, at an average price of USD 86,194 per Bitcoin. The acquisition increased its reported holdings to 848,250 BTC as of October 13.
3. What did the UK High Court decide about the seized 61,000 BTC?
The UK High Court ruled that Chinese law should determine victims' rights to more than 61,000 BTC seized in connection with Zhimin Qian's investment fraud case. The decision establishes the applicable legal framework rather than directly distributing the Bitcoin to claimants.
4. Why could South Korea's KOSPI slump affect cryptocurrency markets?
Tom Lee warned that falling South Korean equities could trigger brokerage margin liquidations and force investors to sell other assets, including cryptocurrencies. The risk is particularly relevant because South Korean investors participate actively in digital asset markets.
5. Why is Metaplanet planning to raise USD 340 million through convertible bonds?
Metaplanet plans to issue approximately JPY 52 billion in zero-interest convertible bonds maturing in 2031. The company intends to allocate JPY 23.6 billion toward Bitcoin-backed debt repayment and up to JPY 28.3 billion for share repurchases.