Ethereum

Bitcoin

mini

Spot

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/significant-outflows-from-spot-bitcoin-etfs-prompt-market-reassessment/" data-wpel-link="internal">Significant Outflows from Spot Bitcoin ETFs Prompt Market Reassessment</a> 
On October 10, substantial net outflows were observed from spot Bitcoin ETFs, totaling $120.76 million without any recorded inflows. This situation has raised concerns within the <a href="https://en.coin-turk.com/cryptocurrency-market-sees-volatile-movements-as-bitcoin-and-ethereum-prices-fluctuate/" data-wpel-link="internal"></a><a href="https://en.coin-turk.com/crypto-market-starts-the-week-positively-bitcoin-ethereum-dogecoin-solana-chainlink-latest-update/" data-wpel-link="internal">cryptocurrency</a> market, indicating that holders are reassessing their positions in spot Bitcoin ETFs. 
<h2 style="text-align: justify" id="strong-major-outflows-from-blackrock-and-fidelity-strong">Major Outflows from Blackrock and Fidelity</h2> 
Blackrock’s Bitcoin ETF, IBIT, experienced a notable outflow of $10.83 million. Similarly, Grayscale’s GBTC saw $18.52 million withdrawn, while Fidelity’s FBTC faced outflows amounting to $33.79 million. Additionally, the ARKB ETF, offered by Ark and 21Shares, recorded an outflow of $30.30 million, and Bitwise’s BITB faced $6.16 million in withdrawals. Grayscale’s mini Bitcoin ETF, BTC, also noted a $21.16 million outflow. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-396283" src="https://coin-turk.com/wp-content/uploads/2024/10/GZlsbBAXAAkdNUS.jpeg" alt="" width="904" height="662"> 
Following these developments, the total net asset value of spot Bitcoin ETFs decreased to $55.15 billion. While various opinions exist regarding the causes behind these massive outflows, some market observers attribute this trend to uncertainties in the U.S. economy and volatility in global financial markets. 
<h2 style="text-align: justify" id="strong-simultaneous-inflows-into-spot-ethereum-etfs-strong">Simultaneous Inflows into Spot Ethereum ETFs</h2> 
On the same date, spot Ethereum ETFs noted a net inflow of $3.06 million, showcasing a different trend compared to Bitcoin ETFs. Blackrock’s ETH ETF saw a significant inflow of $17.85 million, and Grayscale’s mini ETH ETF recorded an inflow of $3.34 million. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-396282" src="https://coin-turk.com/wp-content/uploads/2024/10/GZlsmuXXAAkYN-V.jpeg" alt="" width="900" height="571"> 
However, Grayscale’s ETH ETF registered an outflow of $10.37 million, Fidelity’s ETH ETF had $3.54 million pulled out, and Bitwise’s ETH ETF experienced an outflow of $4.23 million. As a result, the total net asset value of spot Ethereum ETFs was calculated at $6.46 billion. 
Recent fluctuations in the cryptocurrency market, particularly the activity in spot ETFs, have drawn significant attention. Experts agree that interest from investors in such products will likely continue in the short term, emphasizing that decisions made by institutional investors could have a major impact on the market. 
The post <a href="https://en.coin-turk.com/significant-outflows-from-spot-bitcoin-etfs-prompt-market-reassessment/" data-wpel-link="internal">Significant Outflows from Spot Bitcoin ETFs Prompt Market Reassessment</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Significant Outflows from Spot Bitcoin ETFs Prompt Market Reassessment

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