U.S. spot Ethereum ETFs saw net outflows of about $202 million on October 6 (U.S. trading day), all from BlackRock’s ETHA, while the other products saw no flows that day. This marked the sixth consecutive trading day of net outflows for Ethereum ETFs. Since September 29, cumulative outflows have reached about $408 million, and October 6 was the largest single-day outflow of this period.
On the same day, U.S. spot Bitcoin ETFs saw net inflows of about $119 million, including $122 million into BlackRock’s IBIT. With money flowing into one asset and out of the other under the same issuer, this looks more like institutions shifting allocations between the two assets than exiting the market altogether.
In the broader picture, Ethereum ETFs still have historical cumulative net inflows of about $13.58 billion, making this round of outflows roughly 3% of that total. Their total assets are about $17.36 billion, equivalent to 5.27% of Ethereum’s total market capitalization. ETHA also saw a single-day redemption of about $110 million on September 16; this time’s outflow was nearly twice as large.
In the market, $ETH fell below $2,600 on the morning of October 7. Binance spot hit a low of $2,591.71 and was around $2,617 as of 15:05 (UTC+8), down about 2.9% over 24 hours. $BTC was around $84,190, down about 1.3%. The ETH/BTC exchange rate fell to 0.0310, its lowest level since September 5.
#ETH #ETF #BTC does not constitute investment advice.
On the same day, U.S. spot Bitcoin ETFs saw net inflows of about $119 million, including $122 million into BlackRock’s IBIT. With money flowing into one asset and out of the other under the same issuer, this looks more like institutions shifting allocations between the two assets than exiting the market altogether.
In the broader picture, Ethereum ETFs still have historical cumulative net inflows of about $13.58 billion, making this round of outflows roughly 3% of that total. Their total assets are about $17.36 billion, equivalent to 5.27% of Ethereum’s total market capitalization. ETHA also saw a single-day redemption of about $110 million on September 16; this time’s outflow was nearly twice as large.
In the market, $ETH fell below $2,600 on the morning of October 7. Binance spot hit a low of $2,591.71 and was around $2,617 as of 15:05 (UTC+8), down about 2.9% over 24 hours. $BTC was around $84,190, down about 1.3%. The ETH/BTC exchange rate fell to 0.0310, its lowest level since September 5.
#ETH #ETF #BTC does not constitute investment advice.