Key Points
- U.S. Bitcoin spot ETFs experienced a daily outflow of $54.94 million on Nov. 1, with Ethereum ETFs following at $10.93 million.
- Most Bitcoin and Ethereum ETFs reported outflows, with only a few exceptions.
U.S. Bitcoin spot exchange-traded funds (ETFs) recorded a significant daily outflow of $54.94 million on Nov. 1. Bitcoin ETFs, including IBIT, GBTC, FBTC, ARKB, and BITB, all reported net outflows.
Bitcoin ETFs Outflow
According to data from SoSoValue, IBIT had a net inflow of $0, with a cumulative net inflow of $26.14 billion. GBTC, on the other hand, exhibited an outflow of $5.51 million, bringing its cumulative net inflow to -$20.16 billion. FBTC, ARKB, and BITB displayed net outflows of $25.64 million, $24.13 million, and $5.64 million, respectively.
However, the Grayscale Bitcoin Mini Trust was an exception, enjoying an inflow of $13.51 million, bringing its cumulative net inflow to $502.07 million. Despite this, the majority of Bitcoin ETFs reported outflows rather than inflows, with the total net inflow of all Bitcoin ETFs amounting to $24.15 billion as of Nov. 1.
Ethereum ETFs Outflow
In comparison, Ethereum ETFs also experienced a negative outflow of $10.93 million on the same day. The only Ethereum ETF to record an outflow was ETHE, with a significant $11.43 million, bringing its cumulative net inflow to -$3.13 billion.
Other Ethereum ETFs including ETHA, ETH, FETH, ETHW, ETHV, and EZET reported no inflow or outflow, standing at $0. QETH, however, reported an inflow of over $502,000, bringing its cumulative net inflow to $25.82 million.
This decrease in inflow coincides with a drop in the overall crypto market cap to $2.32 trillion. The price of Bitcoin dropped to the $69,400 level, while Ethereum decreased to the $2,490 level.
