Bitcoin ETF Outflows Surge Past $100 Million Amid Ethereum ETF Decline

TLDR

• Bitcoin ETFs experienced a total outflow of $101.29 million on October 22, marking a significant reversal.
• Grayscale GBTC and Fidelity FBTC were among the top Bitcoin ETFs, experiencing major withdrawals of $56.63 million and $56.56 million, respectively.
• BlackRock IBIT and Valkyrie BRRR reported inflows of $73.63 million and $2.14 million, respectively.
• Ethereum ETFs experienced $18.77 million in outflows, with Fidelity FETH leading the way with $49.46 million in withdrawals.
• BlackRock ETHA was the only Ethereum ETF to report inflows, with $110.71 million added to its assets.

On October 22, Bitcoin ETFs faced significant outflows, marking a sharp reversal from the previous day. Bitcoin ETFs experienced $101.29 million in outflows, while Ethereum ETFs recorded $18.77 million. Both crypto assets struggle to recover amid ongoing geopolitical tensions.

Bitcoin ETFs See $101.29 Million in Outflows

Bitcoin ETFs saw a notable outflow of $101.29 million on October 22. Funds like Grayscale GBTC and Fidelity FBTC withdrew $56.63 million and $56.56 million, respectively. Other notable outflows came from Ark & 21Shares, which saw withdrawals of $53.87 million.

Meanwhile, Bitwise BITB posted the smallest outflows, with $9.99 million withdrawn. Despite the negative trend, two funds reported inflows. BlackRock IBIT and Valkyrie BRRR added $73.63 million and $2.14 million, respectively.

The total trading value of Bitcoin ETFs dropped to $6.58 billion. Net assets for Bitcoin ETFs now stand at $146.27 billion. This represents 6.81% of Bitcoin’s market capitalization.

Ethereum ETFs Report $18.77 Million in Outflows

Ethereum ETFs also experienced a decline, with a total of $18.77 million in outflows. Fidelity FETH led with withdrawals of $49.46 million. Grayscale ETH and Grayscale ETHE followed with withdrawals of $46.57 million and $33.46 million, respectively.

On a positive note, BlackRock ETHA saw inflows of $110.71 million. Despite this, the total trading volume of Ethereum ETFs dropped to $2.63 billion. The net assets of Ethereum ETFs are now valued at $25.81 billion, representing 5.66% of Ethereum’s market cap.

As of October 22, Bitcoin is trading at $108,630.76, showing relative stability. Ethereum, on the other hand, is priced at $3,832.38, reflecting a 0.89% decline. The total 24-hour trading volume for Bitcoin and Ethereum decreased as the market sentiment remains cautious.

The post Bitcoin ETF Outflows Surge Past $100 Million Amid Ethereum ETF Decline appeared first on CoinCentral.