PiCK
US Spot Bitcoin ETFs See $244 Million of Net Outflows for Second Straight Session
Summary
- US spot Bitcoin (BTC) ETFs saw $244 million in net outflows on the previous day, marking a second straight trading session of heavy withdrawals.
- US spot Ether (ETH) ETFs also posted $72.5 million in net outflows the same day, extending their withdrawal streak to eight consecutive trading sessions.
- Fund flows diverged across major ETFs including Fidelity's FBTC, BlackRock's IBIT, Fidelity's FETH and Morgan Stanley's MSSE, with net inflows and net outflows varying by product.
Forecast Trend Report by Period
US spot Bitcoin exchange-traded funds recorded large net outflows for a second straight trading session. US spot Ether ETFs also saw money leave for an eighth consecutive session.
According to on-chain data provider SoSoValue, US Bitcoin ETFs posted net outflows of $244 million on Oct. 8. It was the second straight trading day of net outflows.
Fidelity's FBTC led the declines, with $197.1 million leaving the fund. BlackRock's IBIT and Bitwise's BITB posted net outflows of $5.5 million and $17.7 million, respectively. Ark Invest's ARKB and Grayscale's GBTC also recorded net outflows of $20.3 million and $8.2 million.
US Ether ETFs posted net outflows of $72.5 million the same day. That extended their streak of net outflows to eight straight trading sessions.
BlackRock's ETHA saw the biggest withdrawals, with $71.1 million leaving the fund. 21Shares' TETH and Grayscale's ETHE also recorded net outflows of $1.2 million and $6.1 million, respectively.
By contrast, Fidelity's FETH posted net inflows of $5.5 million. Morgan Stanley's MSSE also recorded net inflows of $1.3 million.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul