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U.S. The spot Ethereum ETFs saw a net outflow on Friday of $10.9 Million amid market volatility.
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Grayscale ETHE ETF led outflows at $11.4 million. Invesco QETH ETF experienced a small inflow at $0.5 million.
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Bitcoin ETFs saw net monthly inflows of $5.3 Billion.
The U.S. spot Ethereum ETFs (exchange-traded funds) experienced a net withdrawal of $10.9m on Friday, amid a general crypto market decline. Grayscale’s ETHE was the largest outflow, with $11.4m withdrawn by investors as they reassessed positions amid market uncertainty.
In contrast to Grayscale’s losses, Invesco’s QETH ETF registered a modest net flow of $0.5million yesterday, suggesting some investors still see opportunity in Ethereum despite broader market caution. Other U.S. Ethereum spot ETFs did not report any new investments for the day.
The $10.9 million outflow coincides closely with recent fluctuations on cryptocurrency markets, which led investors to temporarily reduce holdings. Ethereum’s price dropped to $2467 on 1 November after trading at $2700 on 30 October.
Bitcoin ETFs record outflows
The Bitcoin ETF market experienced a significant capital outflow on Friday. This was after seven consecutive trading sessions of net positive flows.
BlackRock’s IBIT was the leading outflow, with $25.6 millions, followed by Bitwise BITB ETF which saw outflows record-breaking $24.1 million. Grayscale was only institution that recorded a positive flow.
Bitcoin ETFs saw record inflows in October
Despite recent outflows data shows that U.S. Bitcoin-related ETFs saw net inflows of $5.3 Billion in October. This is the second largest monthly inflow ever recorded. BlackRock was the leader in these inflows. It added 66,309 Bitcoins worth $4.6 billion, bringing its total holdings to 433,713 BTC.
Fidelity, Bitwise, and ARK Invest also recorded net inflows. The amounts were $497 million and 137 million respectively.
Read also: Bitwise CEO: Ethereum ETFs: Slow start, but future bright
U.S. ETFs approach $1 Trillion in Inflows
Amid the interest in crypto-based ETFs the U.S. ETF Market is close to a historic $1 trillion annual inflows. As of October 31st, U.S. ETFs were within $100 billions of the previous all-time record of $910 billion.
According to Bloomberg analyst Eric Balchunas the steady daily inflows of around $4 billion could push total to $970 billion and potentially reach $1 trillion by the end of the year.
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