Bitcoin ETFs record total daily outflow of $54.94 million as BTC hovers at $69,000

WikiBit 2024-11-03 03:03

The U.S. Bitcoin spot exchange-traded funds have recorded a daily outflow of $54.94 million as of No

The U.S. Bitcoin spot exchange-traded funds have recorded a daily outflow of $54.94 million as of Nov. 1, and Ethereum follows suit with a $10.93 million outflow.

The latest data from SoSoValue shows that the U.S. Bitcoin (BTC) spot ETFs exhibited a $54.94 million outflow on Nov. 1.

The one-day net inflow of IBIT stood at $0. According to the data, the cumulative net inflow of IBIT stood at $26.14 billion.

On the other hand, GBTC exhibited a $5.51 million outflow, which has brought its cumulative net inflow to -$20.16 billion.

FBTC, ARKB, and BITB showcased a net outflow of $25.64 million, $24.13 million, and $5.64 million, respectively.

US BTC Spot ETF inflow data from SoSoValue

Grayscale Bitcoin Mini Trust is the only one that enjoyed an inflow of $13.51 million. This has brought its cumulative net inflow as of Nov. 1 to $502.07 million.

The majority of the Bitcoin ETFs reported outflows primarily rather than inflows. The cumulative total net inflow of all Bitcoin ETFs came around $24.15 billion as of Nov. 1.

Read more: Ethereum price could slip by 40%, Peter Brandt argues

Ethereum ETFs record $10.93 million in outflow

In comparison to Bitcoin ETFs, Ethereum (ETH) ETFs also recorded a negative outflow date with $10.93 million. The cumulative total net inflow also stood at -$491.44 million as per SoSoValue data.

Interestingly, ETHE is the only Ethereum ETF that recorded an outflow of $11.43 million. This brought its cumulative net inflow to -$3.13 billion.

Other ETFs, including ETHA, ETH, FETH, ETHW, ETHV, and EZET, stood at $0 with no inflow or outflow.

QETH, on the other hand, enjoyed over $502,000 in inflow, bringing its cumulative net inflow to $25.82 million.

The poor inflow comes when the overall crypto market cap has plunged to $2.32 trillion. Bitcoin price has dropped to the $69,400 level, while Ethereum has gone down to the $2,490 level at press time.

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