Key Points
- Bitcoin ETFs experienced a significant inflow of $192.4 million following a brief outflow period.
- Ethereum ETFs continue to struggle with inconsistent inflows, reflecting market volatility.
After a brief outflow phase, Bitcoin ETFs have seen significant inflows of $192.4 million.
Meanwhile, Ethereum ETFs continue to experience inconsistent inflows, demonstrating the current volatility of the market.
Institutional Investors and Bitcoin
Institutional investors have temporarily slowed their aggressive accumulation of Bitcoin as the cryptocurrency’s price enters a consolidation phase.
Recent data, including information from UK-based investment firm Farside Investors, suggests that inflows into U.S. spot Bitcoin ETFs have turned net negative for the first time in two weeks.
This pause in purchasing activity indicates increasing caution among investors as they evaluate the next move in Bitcoin’s volatile market.
Analysis of Bitcoin ETFs
Bitcoin ETFs saw a significant outflow of $79.1 million on October 22, with Ark’s 21Shares BTC ETF leading the downturn with the largest outflow of $134.7 million.
However, other Bitcoin ETFs registered net inflows, with BlackRock’s iShares Bitcoin Trust (IBIT) recording the highest inflow of $43 million.
On October 23, Bitcoin ETFs reversed course with a substantial inflow of $192.4 million, despite continued outflows from Ark’s 21Shares and others.
BlackRock’s iShares Bitcoin Trust ETF (IBIT) recorded a remarkable inflow of $317.5 million, highlighting its ongoing popularity among investors.
Updates on Ethereum ETFs
On the other hand, Ethereum ETFs experienced mixed results on October 22 and 23, although they have not attracted the same level of interest as Bitcoin ETFs.
On October 22, Ethereum ETFs saw a total outflow of $11.9 million, with only BlackRock’s ETHA reporting any inflows.
The following day, Ethereum ETFs saw modest inflows of $1.2 million, indicating the volatile nature of Ethereum ETF investments.
As of the latest market updates, Bitcoin is trading at $66,811.00, reflecting a 0.51% increase over the past 24 hours.
In contrast, Ethereum experienced a downturn, with its price dropping by 2.29% to $2,519.34 according to CoinMarketCap data.
These fluctuations underscore the ongoing volatility in the crypto market, with Bitcoin maintaining its upward trend while Ethereum faces short-term declines.