Smaller funds, but they gave up more. U.S. spot ETH ETFs lost $320.1 million from October 12–16, while funds tracking $BTC
lost $228.4 million. And almost all the ETH outflows came from ETHA by BlackRock—about $299 million.
FETH by Fidelity, on the other hand, ended the same week with $10.55 million in inflows. So not everyone is fleeing $ETH
—the money is leaving through just one door.
At the end of the previous week, ETH funds had $15.71 billion in net assets, while BTC funds had $105.84 billion. The smaller one gave up more.
As long as the outflows are concentrated in one fund, “everyone’s fleeing Ethereum” is an exaggeration. But this is the third consecutive week, and the ETH fund market is small to begin with. If other funds catch up with ETHA, then there’ll be reason to worry.
I’m not in ETH or BTC. I buy more BNB every day using DCA, and these figures aren’t changing anything for me.
I’ll check in a week to see if it’s a fourth consecutive week—follow if you want these figures first.
#Ethereum #etf
lost $228.4 million. And almost all the ETH outflows came from ETHA by BlackRock—about $299 million.
FETH by Fidelity, on the other hand, ended the same week with $10.55 million in inflows. So not everyone is fleeing $ETH
—the money is leaving through just one door.
At the end of the previous week, ETH funds had $15.71 billion in net assets, while BTC funds had $105.84 billion. The smaller one gave up more.
As long as the outflows are concentrated in one fund, “everyone’s fleeing Ethereum” is an exaggeration. But this is the third consecutive week, and the ETH fund market is small to begin with. If other funds catch up with ETHA, then there’ll be reason to worry.
I’m not in ETH or BTC. I buy more BNB every day using DCA, and these figures aren’t changing anything for me.
I’ll check in a week to see if it’s a fourth consecutive week—follow if you want these figures first.
#Ethereum #etf