PiCK
U.S. Spot Bitcoin ETFs See $203 Million Weekly Outflow; Ethereum Funds Also Lose Assets
Summary
- U.S. spot Bitcoin ETFs posted $203 million in net outflows last week.
- U.S. spot Ethereum ETFs saw $432 million in net outflows over the same period, marking a fifth straight week of net outflows.
- The two spot ETFs posted combined net outflows of $635 million last week, with Ethereum accounting for about 68% of total withdrawals.
Forecast Trend Report by Period
Investor money flowed out of U.S. spot Bitcoin and Ethereum exchange-traded funds last week.
Wu Blockchain said on Nov. 2 that U.S. spot Bitcoin ETFs recorded net outflows of $203 million in the week from Oct. 26 to Oct. 30.
By product, Fidelity's spot Bitcoin ETF, FBTC, led the outflows with $166 million withdrawn. That represented about 82% of total net outflows from U.S. spot Bitcoin ETFs during the period.
Spot Ethereum ETFs saw even larger withdrawals over the same span. U.S. spot Ethereum ETFs posted net outflows of $432 million during the week. The funds have now recorded weekly net outflows for five consecutive weeks. With the outflow trend extending for more than a month, the focus is on whether institutional demand for Ethereum exposure will recover.
Combined net outflows from spot Bitcoin and Ethereum ETFs totaled $635 million last week. Ethereum accounted for about 68% of the total money that left the two asset classes.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.