2024

Wednesday

Most of the $244.13 million that left U.S. bitcoin ETFs on Thursday came from Fidelity’s spot bitcoin fund FBTC, which lost $197.09 million.
Ether funds declined for the eighth straight session.
<h3 id="span-style-font-weight-400-bitcoin-funds-lost-731-2-million-across-wednesday-and-thursday-span">Bitcoin funds lost $731.2 million across Wednesday and Thursday</h3>
Per Cryptopolitan calculations from <a href="https://sosovalue.com/assets/etf/us-btc-spot" rel="noopener noreferrer nofollow">SoSoValue</a> data, FBTC alone accounted for about 81% of the day’s net outflow. The fund remains at $10.52 billion in cumulative net inflows and $14.55 billion in net assets.
Wednesday was even worse. According to <a href="https://www.cryptopolitan.com/bitcoin-etfs-october-negative-487m-outflow/" rel="noopener noreferrer nofollow">Cryptopolitan</a>, bitcoin funds registered outflows of $487.07 million that day, the highest one-day outflow since June 25.
BlackRock’s IBIT led the exit with $207.7 million.
IBIT fell $5.54 million Thursday. Ark and 21Shares’ ARKB lost $20.29 million, Bitwise’s BITB $17.71 million and Grayscale’s GBTC $8.20 million.
The only buyer was Franklin’s EZBC, at $4.71 million. Bitcoin funds traded $3.18 billion.
The group held $110.68 billion on Tuesday and $104.91 billion by Thursday’s close.
The two sessions cost bitcoin funds $731.2 million. Five-day outflows were $512.4 million and October is now down about $409.7 million after about $321.5 million of inflows in its first four sessions.
Cumulative net inflows since launch in January 2024 remain at $57.09 billion. Bitcoin changed hands at about $82,390 on Friday, 2.9% lower than a week earlier.
<h3 id="span-style-font-weight-400-streak-losses-since-september-29-reach-about-641-million-span">Streak losses since September 29 reach about $641 million</h3>
Ether ETFs lost $72.54 million Thursday. BlackRock’s ETHA took $71.12 million of it while Grayscale’s ETHE lost $6.12 million.
There were also redemptions for 21Shares’ TETH and VanEck’s ETHV. Fidelity’s FETH drew in $5.50 million and Morgan Stanley’s MSSE $1.32 million.
The run commenced with an outflow of $2.81 million on September 29. Eight daily outflows now total about $641 million, with $160.77 million gone Wednesday and $201.89 million on Tuesday.
<a href="https://www.cryptopolitan.com/ether-etfs-lose-408m-six-sessions-bitcoin/" rel="noopener noreferrer nofollow">Cryptopolitan</a> tracked the streak through six sessions when it was at around $408 million.
Ether funds traded $1.92 billion and have $15.64 billion, 5.17% of ether’s market cap. ETH fell about 7.4% in seven days, to around $2,485.
Counting both coins, the two-day exit comes to about $964.5 million.
XRP ETFs bucked the trend with $8.17 million, all through Franklin’s XRPZ. They have $1.56 billion.
Bitwise’s NEAR fund NRR, launched last week, brought in $4.04 million in new capital. NRR’s $59.86 million equals about 1% of NEAR’s market value.
Grayscale’s ZCSH sustained $18.66 million in Zcash ETF outflows, with $655.95 million in net assets left. HYPE funds lost $9.70 million through 21Shares’ THYP.
Solana ETFs saw outflows of $3.32 million, the fourth day in a row of outflows.
Treasury yields and oil prices have been mounting and the dollar has strengthened. A Thai framework for bitcoin and ether funds listed in Bangkok kicks in on October 16.
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Ether ETF outflows hit eight days as Fidelity's FBTC loses $197 million

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