The crypto exchange-traded fund (ETF) market has been reeling from large net outflows from both Bitcoin and Ethereum funds. This volatility, reflecting a decline in investors’ risk appetite, is causing concern in the market.
Spot Bitcoin ETFs saw net outflows totaling $471 million, according to the latest data from SoSoValue. The fact that none of the 12 Bitcoin ETFs generated net capital inflows highlighted the negative sentiment in the market.
The largest outflow was from Fidelity’s FBTC fund, at $164 million. ARKB, a joint fund between Ark Invest and 21Shares, followed with $144 million. Despite these recent outflows, the Bitcoin ETF has a spot net asset value of $149.97 billion since its inception, with total net inflows of $61.86 billion.
Ethereum ETFs also experienced selling pressure. On the same day, the Spot Ethereum ETF saw net outflows of $81.44 million.
The only strong performer in this category was BlackRock’s ETHA fund, with net inflows of $21.36 million. Meanwhile, the largest capital outflow was $69.49 million in Fidelity’s FETH fund.
According to the latest data, the total net assets of the Spot Ethereum ETF reached $26.6 billion, with total net capital inflows to date reaching $14.65 billion. These trends suggest that investors are approaching the crypto market more cautiously as of the end of October.
*This is not investment advice.
