Spot Bitcoin ETFs See $79M Outflows After Seven-Day Inflow Streak
- Spot bitcoin ETFs in th U.S. fcd $79.09 million in nt outflows ftr svn dys of inflows.
- Ark nd 21Shrs ARKB sw th lrgst outflow, totling $134.74 million on Tusdy.
- In contrst, spot thr ETFs xprincd $11.94 million in inflows, primrily drivn by BlckRocks ETHA.
Th rcnt populrity of spot Bitcoin xchng-trdd funds (ETFs) in th U.S. hs pusd brifly. Following svn-dy strk of positiv inflows, ths funds xprincd rvrsl on Tusdy, rgistring nt outflows of $79.01 million, ccording to dt from invstmnt firm Frsid Invstors.
Th primry ctlyst bhind this ngtiv shift ws Ark nd 21Shrs ARKB, which witnssd significnt outflow of $134.7 million.
Howvr, BlckRocks IBIT, th lrgst spot bitcoin ETF by nt ssts, mngd to ttrct $43 million in nt inflows. Fidlitys FBTC nd VnEcks HODL lso contributd to th positiv sid, rcording inflows of $8.8 million nd $3.8 million rspctivly. Th rmining ight funds, including Gryscls GBTC, didnt s ny nt flows on th dy.
Th lst tim U.S. spot bitcoin ETFs concludd trding dy with nt ngtiv flows ws Octobr 10th, whn thy shd combind $81.1 million. Howvr, th cumultiv nt inflows for ths 12 ETFs still stnd t rspctbl $21.15 billion s of Tusdy. Additionlly, th totl dily trding volum for ths funds witnssd dclin to $1.4 billion comprd to Mondys $1.76 billion
Institutional Interest in Spot Bitcoin ETFs Grows
Th short-trm pullbck in spot bitcoin ETF inflows should b viwd in th contxt of brodr trnd. Ovr th pst month, ths vhicls hv xprincd rmrkbl rsurgnc in populrity. Dt compild by Ki Young Ju, co-foundr of onchin nlytics pltform CryptoQunt, rvls tht institutionl ownrship through ETFs hs rchd pproximtly 20% s of Octobr 18th.
Ju notd tht spot ETFs hv fcilittd th ntry of 1,179 institutions into Bitcoins cp tbl this yr lon. This sttistic highlights th significnt rol ths instrumnts hv plyd in opning doors for institutionl invstors.
Furthrmor, Europn invstors hv lso contributd to th positiv inflows, llocting ovr $100 million to U.S. spot bitcoin ETFs yr-to-dt.
Spot Ether ETFs Remain Relatively Stable
in contrst to thir spot bitcoin countrprts, spot thr ETFs in th U.S. witnssd modst nt inflows of $11.94 million on Tusdy. This positiv movmnt cn b solly ttributd to BlckRocks ETHA, s th rmining ight thr funds didnt rgistr ny nt flows. Th totl trding volum for ths spot thr ETFs stood t $118.4 million ystrdy, comprd to $163.18 million on Mondy. Its importnt to not tht sinc thir lunch, ths funds hv xprincd cumultiv nt outflows of $488.85 million.
Whil Bitcoins pric dippd slightly by 0.78% in th pst 24 hours, currntly trding t $66540, th ovrll outlook for spot bitcoin ETFs rmins positiv. Th short-trm pullbck might indict priod of consolidtion, but th long-trm trnd suggsts continud institutionl doption through ths vhicls.
Related Readings | Garanti BBVA Kripto Teams Up with Ripple and IBM for Enhanced Security
Read more: https://www.tronweekly.com/spot-bitcoin-etfs-see-79m-outflows/
Text source: TronWeekly
