On November 1, the daily net outflows for U.S. Bitcoin spot ETFS reached $54.94m, while Ethereum ETFs came in right behind at $10.93m. SoSoValue data shows that the Bitcoin spot ETFs one day net inflow was $0 and in aggregate are up $26.14 billion for IBIT.
In contrast, the Grayscale Bitcoin Trust (GBTC) saw a $5.51 million outflow, netting a $20.16 billion cumulative net outflow. Significant others included ARKB at $24.13 million, FBTC at $25.64 million and BITB at $5.64 million. The exception, however, was the Grayscale Bitcoin Mini Trust that saw a net inflow of $13.51 million bringing the cummulative net inflow to $502.07 million.
Bitcoin And Ethereum ETFs Face Notable Outflows
Across all Bitcoin ETFs, except for BITO, most experienced outflows with a total cumulative net inflow of ~$24.15 billion as of Nov 1. This trend was also echoed by Ethereum ETFs who saw net outflow of $10.93 million bring their cumulative net outflow to $491.44 million.
In particular, Ethereum ETF ETHE recorded an outflow of $11.43 million among the total $3.13 billion – the only outflow – and among the total $76.03 billion of inflows and outflows. Besides, other ethereum ETFs like FETH, REGT, ETHW, QETH, ETHV, and ETHA had either reported constant inflow or outflow, unless the QETH, seeing inflow of over $502,000 raised its cumulative net inflow to close to $25.82 million.
The downturn in ETF inflows during this time correlates with broader falling in the cryptocurrency market, which has seen its total market capitalization shrink to $2.32 trillion. At time of reporting, Bitcoin stands at around $69,400 and Ethereum at around $2,490.
