Significant Outflows Recorded in Spot Bitcoin and Ethereum ETFs

On November 4, 2024, spot Bitcoin


$
75,519
and Ethereum


$
2,802
ETFs in the United States experienced notable outflows. According to data from Spot On Chain, a total net outflow of 540.9 million dollars was registered from spot Bitcoin ETFs, while Ethereum ETFs saw outflows of 63.2 million dollars.
Contents
BlackRock’s Spot Bitcoin ETF Records Positive Inflows
Spot Ethereum ETFs Also Face Withdrawals
BlackRock’s Spot Bitcoin ETF Records Positive Inflows
Among Bitcoin ETFs in the United States, only BlackRock’s IBIT ETF recorded a positive inflow of 38.6 million dollars. All other spot Bitcoin ETFs faced significant losses, with Fidelity’s FBTC ETF experiencing a withdrawal of 169.6 million dollars and ARK 21Shares’ ARKB ETF seeing 138.3 million dollars in outflows.


Prominent providers such as Grayscale, Bitwise, and VanEck also reported negative inflows. This trend reflects the significant impact of uncertainty in the sector on investor behavior, especially ahead of the U.S. presidential elections.
Spot Ethereum ETFs Also Face Withdrawals
The situation was similar for spot Ethereum ETFs. Only BlackRock’s ETHA ETF recorded a positive inflow of 11 million dollars, while Grayscale, Fidelity, and Grayscale Mini ETFs saw outflows of 10.8 million dollars, 31.5 million dollars, and 31.9 million dollars, respectively. This indicates a decline in investor interest in spot Ethereum ETFs.
The outflows from both spot Bitcoin and Ethereum ETFs are linked to uncertainties in the
cryptocurrency
market and the upcoming U.S. presidential elections. Industry experts suggest that the outflows from U.S.-based ETFs may reflect changes in investor perceptions and market volatility.
Currently, it appears that the Republican candidate Donald Trump is likely to win the election, eliminating significant uncertainty. Experts believe that the resolution of election uncertainties and the potential victory of a crypto-friendly candidate like Trump may positively impact the cryptocurrency market, leading to renewed inflows into ETFs.
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Disclaimer:
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.