Bitcoin ETFs See Major Outflows as Ethereum Gains Investor Interest
On October 2, Bitcoin ETFs saw a net outflow of $52.9 million, reflecting the mixed sentiment in the market.
Ark’s ARKB ETF had the largest outflow at $60.3 million, while BlackRock’s IBIT ETF saw a smaller outflow of $13.7 million, according to Farside data .
In contrast, Fidelity’s FBTC ETF attracted $21.1 million in inflows, slightly balancing out the overall outflows. Meanwhile, other ETFs from Bitwise, Invesco, Franklin, Valkyrie, VanEck, WisdomTree, and Grayscale remained largely unchanged.
Ethereum ETFs, however, showed positive activity with an inflow of $19.8 million. Leading the way, BlackRock’s ETHA ETF brought in $18 million, and Franklin Templeton’s EZET ETF gained $1.8 million. Other Ethereum-focused ETFs, including those from Fidelity, Bitwise, and Grayscale, saw no significant changes.
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Controversial Theory Suggests Bitcoin Was Designed to Undermine the U.S. DollarThis split in fund movements highlights the market’s volatility, with institutional investors showing a stronger interest in Ethereum products, while Bitcoin ETFs, particularly from Ark and BlackRock, face continued outflows, suggesting adjustments in market exposure.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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