Bitcoin Spot ETF Outflow Reaches $54.1M, While IBIT Sees Significant Inflows

The cryptocurrency market has witnessed significant activity recently, with Bitcoin Spot Exchange-Traded Funds (ETFs) recording substantial outflows. On October 3, Bitcoin Spot ETFs saw a net outflow of $54.1 million, with funds like FBTC and ARKB leading the withdrawals. However, this was partially offset by inflows into IBIT, which recorded an impressive $35.96 million in new investments.

Key Points:

• 1. Bitcoin Spot ETF outflows totaled $54.1M on October 3, led by FBTC and ARKB, while IBIT saw $35.96M in inflows.
• 2. Ethereum Spot ETFs also experienced net outflows of $3.2M on the same day.
• 3. Over the past three days, Bitcoin Spot ETF outflows have reached $388M, suggesting a bearish market sentiment.

Bitcoin Spot ETF Outflows Hit $54.1M

U.S. Bitcoin Spot ETFs saw net outflows amounting to $54.13 million on Thursday, with ARKB driving most of the withdrawals. The cumulative outflow over the past three days has reached a staggering $388 million, indicating growing negative sentiment in the market, according to a report from Sosovalue.

Despite the heavy outflows from ARKB, BlackRock’s IBIT and Bitwise’s BITB showed resilience, attracting fresh capital. This highlights mixed performance across various Bitcoin ETFs. Daily trading volume also dipped, falling from $1.66 billion to $1.13 billion.

Ethereum Spot ETF Registers $3.2M Outflow

Similar to Bitcoin, Ethereum Spot ETFs experienced net outflows of $3.2 million on October 3. Grayscale’s ETHE was the main contributor to the outflows, while BlackRock’s ETHA mitigated some losses, posting a notable $12.08 million in net inflows.

This split performance among Ether ETFs reflects a divided market sentiment. The trading volume for Ethereum ETFs also saw a drop compared to the previous day, further signaling cautious behavior among investors.

Conclusion

The recent outflows from Bitcoin and Ethereum Spot ETFs indicate a growing sense of uncertainty in the cryptocurrency market. While funds like ARKB and ETHE have seen major withdrawals, inflows into BlackRock’s IBIT and ETHA suggest that investor interest is still present, albeit selective. The coming days will reveal whether this trend continues or if the market sentiment stabilizes.