Ethereum

Bitcoin ETF

Bitcoin

Spot

Spot Bitcoin exchange-traded funds in the U.S. witnessed their third consecutive day of outflows on Oct. 10, while spot Ethereum ETFs posted a modest but positive turnaround after a day of inactivity.
According to <a href="https://sosovalue.com/assets/etf/us-btc-spot" target="_blank" rel="noopener noreferrer nofollow">data </a>from SoSoValue, the 12 spot Bitcoin ETFs registered outflows totaling $120.76 million on Oct. 10, a notable jump from the previous day’s outflows of<a href="https://crypto.news/spot-bitcoin-etfs-log-second-consecutive-day-of-outflows-led-by-ark-21shares-arkb/" target="_blank" rel="noopener noreferrer nofollow"> $40.56 million</a>.
Fidelity’s FBTC ETF led the wave of Bitcoin ETF outflows, with $149.5 million exiting the fund after a day of zero net flows. Other major funds followed suit, including ARK and 21Shares’ ARKB with $30.30 million in outflows and Bitwise’s BITB shedding $6.16 million.
Even <a href="https://crypto.news/tag/Blackrock/" target="_blank" rel="noopener noreferrer nofollow">BlackRock</a>’s IBIT, the largest Bitcoin ETF by net assets, broke its five-day inflow streak with an outflow of $10.83 million, reflecting a broader cooling of investor appetite for Bitcoin exposure.
Grayscale, another significant player in the ETF space, saw both its GBTC and Grayscale Bitcoin Mini Trust log outflows of $18.52 million and $21.16 million respectively. Despite these negative flows, six other Bitcoin ETFs remained neutral, neither contributing to the outflows nor seeing fresh investor interest.
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/spot-bitcoin-etfs-log-second-consecutive-day-of-outflows-led-by-ark-21shares-arkb/"> Spot Bitcoin ETFs log second consecutive day of outflows, led by ARK 21Shares’ ARKB </a>
<h2 class="wp-block-heading" id="market-fears-drive-sell-off-and-liquidations">Market fears drive sell-off and liquidations</h2>
The surge in BTC outflows coincided with a 3% drop in Bitcoin’s (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) price, which hit a three-week low of $58,900, before recovering slightly to $60,602. The drop followed unexpected U.S. inflation data that reignited fears of the Federal Reserve pausing interest rate cuts, adding pressure to the cryptocurrency market.
This decline also sparked $198.6 million in liquidations across the market, affecting over 59,000 traders, according to <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener noreferrer nofollow">data </a>from Coinglass. Bitcoin’s long positions accounted for $53.3 million of those liquidations, while Ethereum traders lost $31.6 million in the same period.
As the sell-off progressed, fear grew across the cryptocurrency market. The closely-watched Crypto Fear and Greed Index <a href="https://alternative.me/crypto/fear-and-greed-index/" target="_blank" rel="noopener noreferrer nofollow">dropped </a>to 32, marking its lowest level since mid-September and firmly placing the market sentiment in the “fear” zone.
<h2 class="wp-block-heading" id="ethereum-etfs-attract-modest-inflows-amid-btc-downtrend">Ethereum ETFs attract modest inflows amid BTC downtrend</h2>
In contrast to Bitcoin, Ethereum ETFs saw a small but notable uptick. Nine spot Ethereum ETFs recorded net inflows of <a href="https://sosovalue.com/assets/etf/us-eth-spot" target="_blank" rel="noopener noreferrer nofollow">$3.06 million</a> on Oct. 10, reversing a prior day of zero net flows.
BlackRock’s ETHA led the charge, attracting $17.85 million in fresh capital. Grayscale’s Ethereum Mini Trust followed with inflows of $3.34 million, marking its first positive flows since September 27.
However, these gains were partially offset by outflows from Grayscale’s ETHE, Bitwise’s ETHW, and Fidelity’s FETH, which saw redemptions of $10.37 million, $4.23 million, and $3.54 million respectively. Four other Ethereum ETFs remained neutral, contributing neither inflows nor outflows.
At the time of writing, Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) was trading at $2,414, moving sideways in a market largely dominated by Bitcoin’s volatility.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/crypto-market-looks-bearish-ahead-of-cpi-report-btc-at-60k/"> Crypto market looks bearish ahead of CPI report, BTC at $60k </a>

Spot Bitcoin ETFs on three-day outflow streak, Ether ETFs rebound

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