- The Bitcoin ETF of fidelity has suffered the significant parts of the outflows, after around $48.82 million escaped out yesterday.
- Going opposite to the trend, IBIT of BlackRock was the only ETF which was not seen going downwards.
- Spot Ethereum ETFs were parallel to the behavior of Bitcoin, in terms of the total outflows in the market. Cumulatively, the net outflows of nine spot Ether ETFs stood at around $8.19 million.
SoSoValue, a financial research platform has released data in which 12 spot Bitcoin ETFs witnessed discharge of about $18.66 million. A result of this is a potential shift in investor sentiment in the middle of market slump.
In the last two days, the funds accumulated nearly $260.78 million and after that it started declining gradually.
Bitcoin ETF is suffering
The Bitcoin ETF of fidelity has suffered the significant parts of the outflows, after around $48.82 million escaped out yesterday. On October 7, FBTC announced the biggest inflows in the group of all spot Bitcoin ETFs, with a gain of about $103.7 million. But on the next day, the table was turned.
The Bitcoin Trust of Grayscale was also seen going negatively. The GBTC witnessed $9.41 million of outflows following a complete day of no activity. After GBTC was introduced, it witnessed around $20.15 billion of total outflows. This factor was highly involved in driving the GBTC to a negative flow.
Going opposite to the trend, IBIT of BlackRock was the only ETF which was not seen going downwards. The biggest Bitcoin ETF by assets under management gained over $39.57 million in inflows, which somehow contributed to balancing out the downward trend.
Rest of the nine spot Bitcoin ETFs were not either up or down, which resulted in having no outflow as well as inflow as marked on yesterday. But, if we talk about the overall trading volume over all Bitcoin ETFs, it went up to around $1.35 billion, a gradual increase from last day.
Overall, the U.S spot Bitcoin ETFs have managed to attract about $18.72 billion, marking from the day it got launched. At the press time, Bitcoin is trading at about $62,021.11. This price level has left the investors with a sense of uncertainty of whether they should involve themselves in these funds or not.
Where do the Ethereum ETFs stand?
Spot Ethereum ETFs were parallel to the behavior of Bitcoin, in terms of the total outflows in the market. Cumulatively, the net outflows of nine spot Ether ETFs stood at around $8.19 million, yesterday. Before this, there was no activity marked on the same.
The most tampered were FETH of Fidelity and ETHW of Bitwise, which marked outflows of around $3.65 million and $4.54 million respectively. Rest of the seven ETH ETFs neither went up nor down.
The trading volume of Ethereum ETFs also went down from $118.43 million to $102.37 million a day before. If we talk about the total outflow of spot Ether ETFs, it stood at about $561.85 million after its launch, giving consideration to the determined investor attention in the Ether market.
