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Crypto Chat, News Significant Outflows in Bitcoin and Ethereum ETFs

Adrieris

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📉 Significant Outflows in Bitcoin and Ethereum ETFs

💰 On Monday, spot bitcoin exchange-traded funds (ETFs) experienced major outflows, with investors withdrawing a total of $541.07 million. Fidelity’s FBTC was hit the hardest, suffering $169.6 million in withdrawals. Ark Invest and 21shares saw $138.26 million exit, while Grayscale’s Bitcoin Mini Trust faced a dip of $89.49 million. Other notable outflows included Bitwise’s BITB with $79.84 million, Grayscale’s GBTC dropping by $63.66 million, and Franklin Templeton’s EZBC losing $17.62 million. Vaneck’s HODL and Valkyrie’s BRRR also reported outflows of $15.28 million and $5.74 million respectively. Blackrock’s IBIT fund was an exception, attracting $38.42 million in inflows.

📉 Ethereum funds also faced losses, with a total of $63.22 million exiting. Grayscale’s Ethereum Mini Trust led the decline with $31.94 million withdrawn, followed closely by Fidelity’s FETH which shed about $31.5 million. Grayscale’s ETHE saw a divestment of approximately $10.8 million. However, Blackrock’s ETHA fund managed to attract $11.01 million in inflows.

📊 Despite the outflows, the total cumulative net inflows for bitcoin ETFs stood at $23.61 billion as of November 5. Monday’s trading volume for spot bitcoin ETFs was $2.22 billion, while ethereum funds saw $149.11 million in trades. As of Tuesday, the twelve bitcoin funds held $67.44 billion in bitcoin, representing 5.06% of the cryptocurrency’s total market cap, and the nine ethereum funds held $6.63 billion, making up 2.27% of ethereum’s market cap.
 

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