Bitcoin ETFs Face Major Outflows as Ethereum Sees Increased Net Inflows
Data from Farside indicates that Bitcoin spot ETFs experienced a significant net outflow of $91.76 million on October 2, leading to a cumulative net inflow decrease of 0.48% to $18.53 billion.
Fidelity’s Bitcoin ETF (FBTC) led with a net inflow of $21.08 million, while ARK 21Shares’ ETF (ARKB) saw the largest outflow at $60.28 million, according to Farside.
The total value traded for Bitcoin ETFs fell 34.39% to $1.66 billion, and total net assets dropped 2.63% over two days to $57.68 billion. In a notable trend, Bitcoin ETFs reversed a week-long inflow period, with cumulative outflows exceeding $200 million since the end of September.
In terms of individual performance, iShares’ ETF (IBIT) had a net outflow of $13.74 million, while FBTC’s total net inflow reached $9.87 billion despite a 2.52% price drop. Meanwhile, ARK 21Shares’ ETF had total inflows of $2.57 billion after its $60.28 million outflow, and Grayscale’s GBTC recorded $27 million in outflows.
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Ethereum spot ETFs fared better with a net inflow of $14.45 million, totaling $197.82 million in trading volume and $6.51 billion in net assets. However, cumulative outflows reached $557.86 million. Grayscale’s ETHE had a daily outflow of $5.4 million, while iShares’ ETHA performed best with an inflow of $18.04 million, bringing its cumulative inflow to $1.16 billion.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
