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$438M Bitcoin ETF Outflows Reflect Investor Shift Toward Ethereum

$438M Bitcoin ETF Outflows Reflect Investor Shift Toward Ethereum

CoinEditionCoinEdition2024/11/25 16:00
By:Coin Edition

Bitcoin ETFs see $438M outflows, led by BITB at $280M, ending 5-day inflow streak. Ethereum ETFs post $2.8M inflows, contrasting Bitcoin’s trend amid steady trading volumes. Last week saw record $3.13B inflows, but European markets faced $141M outflows.

  • Bitcoin ETFs see $438M outflows, led by BITB at $280M, ending 5-day inflow streak.
  • Ethereum ETFs post $2.8M inflows, contrasting Bitcoin’s trend amid steady trading volumes.
  • Last week saw record $3.13B inflows, but European markets faced $141M outflows.

Bitcoin ETFs saw significant outflows on Monday, ending a five-day inflow streak. This shift in the crypto market saw total outflows of approximately $438.4 million, suggesting a change in investor sentiment towards Bitcoin as a long-term investment.

Bitwise’s BITB had the largest outflows on Monday, losing over $280.7 million in investor funds. Grayscale’s GBTC followed with outflows of $158.2 million.

Fidelity’s FBTC also had withdrawals of $134.7 million, while Ark’s ARKB and 21Shares had combined outflows of $110.9 million.

$438M Bitcoin ETF Outflows Reflect Investor Shift Toward Ethereum image 0 $438M Bitcoin ETF Outflows Reflect Investor Shift Toward Ethereum image 1 Source: SoSoValue

Invesco, Valkyrie, and VanEck spot Bitcoin ETFs also had outflows, adding to the day’s negative trend.

However, a few ETFs went against the trend. BlackRock’s IBIT, the largest spot Bitcoin ETF with $31.6 billion in cumulative inflows, had a net inflow of $267.8 million on Monday. Grayscale’s Mini Bitcoin Trust also had an inflow of $420,460, which shows continued investor interest in some Bitcoin investment products.

Trading activity in Bitcoin ETFs, however, was strong, with total trades reaching $5.6 billion, up from $5.4 billion on Friday. These funds have total net assets of $102.2 billion, which is 5.4% of Bitcoin’s total market capitalization.

Ethereum ETFs Show Gains

While Bitcoin ETFs had these outflows, Ethereum ETFs showed a different trend. On Monday, U.S. spot Ethereum ETFs had net inflows of $2.8 million, led by Bitwise, Fidelity, and VanEck funds.

$438M Bitcoin ETF Outflows Reflect Investor Shift Toward Ethereum image 2 $438M Bitcoin ETF Outflows Reflect Investor Shift Toward Ethereum image 3

But some Ethereum-focused ETFs, including those from 21Shares and Grayscale, had net outflows. Last Friday, the total trading volume for Ethereum ETFs rose to $711.2 million from $373.9 million.

Despite the outflows, Bitcoin ETFs have performed well in recent weeks. Last week, digital asset investment products, led by Bitcoin ETFs, had a net inflow of $3.12 billion . This brought the total inflows to $37 billion, which shows continued institutional interest in crypto assets.

However, this optimism was tempered by outflows in European markets. Germany, Sweden, and Switzerland lost a combined $141 million. In contrast, markets in Australia, Canada, and Hong Kong had combined inflows of $70 million.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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