Bitcoin

Ethereum

<p>In the volatile market of cryptocurrency, U.S.-based spot ETFs for <a href="https://blockchainreporter.net/price-prediction/ethereum-price-prediction/" rel="noopener noreferrer nofollow">Ethereum</a> and <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin</a> witnessed contrasting movements of capital on October 2. As per Spot On Chain, a popular on-chain analytics provider, the divergent flows of Bitcoin and Ethereum highlight the current tug-of-war between the market trends and the investors. The analytics platform took to its official social media account to offer details about these flows.</p><h2 id="header-0">Bitcoin ETFs Incur an Enormous Loss of $92M, Denoting a Downturn for 2nd Consecutive Day</h2><p>In its recent X post, Spot On Chain noted that Bitcoin ETFs saw a substantial outflow of up to $92M, continuing a downward spree for the <a href="https://blockchainreporter.net/october-brings-massive-bitcoin-and-ethereum-etf-outflows-291m-pulled/" rel="noopener noreferrer nofollow">2nd consecutive day</a>. Keeping that in view, the Bitcoin ETF sector is going through a challenging time as 4 out of 5 prominent Bitcoin ETFs experienced outflows on the 2nd of October. The biggest outflow hit ARK 21Shares ($ARKB), which went through a massive loss of $60.3M.</p><p>Grayscale ($GBTC) followed it with an outflow of nearly $27.3M. Additionally, the $IBIT ETF of BlackRock and $BITB of Bitwise also losses, with $14M and $11.5M in outflows respectively. $FBTC of Fidelity emerged as the only Bitcoin ETF that recorded a positive flow although a modest one. It effectively added $21.1M. Irrespective of this, the general sentiment concerning $BTC ETFs has maintained a negative outlook. Investors are reacting to the wider market uncertainties.</p><h2 id="header-1">Ethereum ETFs See Positive Flows With the Inclusion of $14.9M</h2><p>On the other hand, $ETH ETFs had witnessed a relatively supportive outcome, with a cumulative inflow of almost $14.9M. BlackRock’s $ETHA made the most noteworthy contribution with an influx of approximately $18.5M. In addition to this, $1.8M flowed into Franklin’s $EZET. This indicates a rising interest in $ETH ETFs. Notably, the rest of the major players like Fidelity, <a href="https://www.21shares.com/en-us" rel="noopener noreferrer nofollow">21Shares</a>, and <a href="https://www.vaneck.com/us/en/" rel="noopener noreferrer nofollow">VanEck</a> recorded no activity. Grayscale’s $ETHE added $5.4M.</p><p>Though <a href="https://ethereum.org/" rel="noopener noreferrer nofollow">Ethereum</a> is struggling to recover its price from the recent dip, the current positive flows signify the confidence of investors in the long-term potential of $ETH. However, Bitcoin is currently going through more sudden headwinds, especially in the ETF sector. While the crypto industry keeps evolving, the divergent flows of $Ethereum and $Bitcoin are worth watching for the potential consequences.</p>

Bitcoin ETFs Bleed $92M, Ethereum Sees a $14.9M Boost on 2nd October

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