Bitcoin ETFs Experience Daily Outflow of 5494 Million Amid BTC Trading Around 69000
As of November 1, U.S. Bitcoin spot exchange-traded funds (ETFs) have experienced a significant daily outflow of $54.94 million, with Ethereum following closely behind with an outflow of $10.93 million. According to recent figures from SoSoValue, the Bitcoin (BTC) spot ETFs recorded this notable outflow on the specified date.
The IBIT ETF noted a net inflow of $0 for the day, while its cumulative net inflow reached $26.14 billion. In contrast, the Grayscale Bitcoin Trust (GBTC) reported an outflow of $5.51 million, contributing to a cumulative net inflow of -$20.16 billion. Additionally, other ETFs such as FBTC, ARKB, and BITB recorded net outflows of $25.64 million, $24.13 million, and $5.64 million, respectively.
In a somewhat positive light, the Grayscale Bitcoin Mini Trust was the exception, witnessing an inflow of $13.51 million, raising its cumulative net inflow to $502.07 million. Overall, the majority of Bitcoin ETFs reported outflows rather than inflows, bringing the total cumulative net inflow for all Bitcoin ETFs to approximately $24.15 billion as of November 1.
Turning to Ethereum, the data reflects a similarly negative trend, with Ethereum (ETH) ETFs also facing a $10.93 million outflow. The cumulative net inflow for Ethereum ETFs was recorded at -$491.44 million. Notably, the ETHE ETF was the sole Ethereum fund to experience a significant outflow of $11.43 million, leading to a cumulative net inflow of -$3.13 billion. Other Ethereum ETFs, including ETHA, ETH, FETH, ETHW, ETHV, and EZET, reported no inflows or outflows.
On a more positive note, the QETH ETF saw an inflow of over $502,000, which increased its cumulative net inflow to $25.82 million. This decline in inflow occurs amidst a broader downturn in the cryptocurrency market, which has seen its total market capitalization shrink to $2.32 trillion. As of the latest updates, Bitcoin’s price has fallen to approximately $69,400, while Ethereum has dropped to around $2,490.
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