As Bitcoin (BTC) prices retreat to the critical $60,000 level, the spot Bitcoin ETF market has also experienced a slight increase in net outflows. On October 9, a total of 105 BTC (worth approximately $6.5 million) was withdrawn from 10 spot Bitcoin ETFs. Fidelity’s FBTC ETF led the outflows, with 787 BTC (worth $48.55 million) being sold. Meanwhile, spot Ethereum (ETH) ETFs saw a total of 3,442 ETH (worth $8.32 million) withdrawn, with Bitwise Ethereum ETF leading the charge with a withdrawal of 1,865 ETH (worth $4.53 million).
Spot Bitcoin ETFs Experience Significant Outflows
As Bitcoin’s price declined, the ETF market saw notable activity. Data shows that the largest outflow occurred in Fidelity’s spot Bitcoin ETF (FBTC). Fidelity currently holds 178,778 BTC, valued at around $11 billion. These withdrawals are likely connected to investors taking profits in response to price volatility or reducing exposure to risk.
Spot Ethereum ETFs Follow a Similar Trend
The situation is similar for Ethereum ETFs. On October 9, 3,442 ETH were withdrawn from spot Ethereum ETFs, with a total value of $8.32 million. The largest outflow was recorded by Bitwise’s Ethereum ETF, which lost 1,865 ETH (worth $4.53 million). The increasing outflows from Ethereum ETFs align with the broader market trend, as investors become more cautious due to market uncertainties.
The recent surge in net outflows indicates growing investor sensitivity to the rising volatility in the crypto market. These developments in Bitcoin and Ethereum ETFs continue to serve as key signals for market participants, suggesting a shift in investor sentiment.
Stay tuned to Dey There for further updates on the crypto market.
Bitcoin, Ethereum, ETF, outflows, market volatility
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