$515 Million Flows Out of Bitcoin ETFs in October
$515 Million Flows Out of Bitcoin ETFs in October
🏛 Background
💡 US spot Bitcoin ETFs recorded about $111 million in net inflows from October 1 to 28.
🔥 But in the final two trading sessions of the month, roughly $626 million flowed out of them.
Focus
🧐 The total net flow for October for these funds was negative $515 million.
💡 The week ending October 30 closed with $202.4 million in outflows, and total net assets fell to $98.14 billion.
🔥 On October 30, BlackRock's IBIT, with $233.7 million, and Fidelity's FBTC, with $201 million, saw the largest outflows.
Implications
💡 Cumulative net inflows into these funds since launch declined to about $57 billion.
🧐 The outflows began after the Binance hack and ended a four-day streak of inflows.
Conclusion
🧐 ETF flow data in the first week of November will show whether institutional investors return to the market after this shock
📊 #Bitcoin #ETF #Investing #Crypto
🏛 Background
💡 US spot Bitcoin ETFs recorded about $111 million in net inflows from October 1 to 28.
🔥 But in the final two trading sessions of the month, roughly $626 million flowed out of them.
Focus
🧐 The total net flow for October for these funds was negative $515 million.
💡 The week ending October 30 closed with $202.4 million in outflows, and total net assets fell to $98.14 billion.
🔥 On October 30, BlackRock's IBIT, with $233.7 million, and Fidelity's FBTC, with $201 million, saw the largest outflows.
Implications
💡 Cumulative net inflows into these funds since launch declined to about $57 billion.
🧐 The outflows began after the Binance hack and ended a four-day streak of inflows.
Conclusion
🧐 ETF flow data in the first week of November will show whether institutional investors return to the market after this shock
📊 #Bitcoin #ETF #Investing #Crypto
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