On October 10, significant net outflows were observed from spot Bitcoin ETFs, totaling $120.76 million without any corresponding inflows. This situation raises concerns in the cryptocurrency market, prompting investors to reassess their positions in spot Bitcoin ETFs.
Major Outflows from Blackrock and Fidelity
Blackrock's Bitcoin ETF, IBIT, saw an outflow of $10.83 million. Similarly, Grayscale's GBTC saw an outflow of $18.52 million, while Fidelity's FBTC saw outflows of $33.79 million. Additionally, ARKB, powered by Ark and 21Shares, has outflows of $30.30 million , and BITB Bitwise has seen $6.16 million withdrawn. Grayscale's mini Bitcoin ETF also saw outflows of $21.16 million.Following these developments, the total net asset value of spot Bitcoin ETFs fell to $55.15 billion. While there are differing views on the reasons behind these substantial outflows, some attribute the situation to uncertainties in the U.S. economy and volatility in global financial markets.
Inflows into Spot Ethereum ETFs on the Same Date
On the same date, spot Ethereum ETFs attracted net inflows of $3.06 million, indicating a different trend for Ethereum compared to Bitcoin. Blackrock’s ETH ETF saw significant inflows of $17.85 million, while Grayscale’s mini ETH ETF experienced inflows of $3.34 million.
Conversely, Grayscale’s ETH ETF experienced outflows of $10.37 million, Fidelity’s ETH ETF saw $3.54 million withdrawn, and Bitwise’s ETH ETF had outflows of $4.23 million. Consequently, the total net asset value of spot Ethereum ETFs is estimated at $6.46 billion.
Recent fluctuations in the cryptocurrency market, particularly in spot ETFs, have drawn significant attention. Experts agree that investor interest in such products will likely continue in the short term, particularly as institutional investors’ decisions can have substantial market impacts.