October 19 U.S. spot ETFs: BlackRock’s IBIT saw net inflows of $665.2 million, while its ETHA saw net outflows of $95.4 million.
ETH spot ETFs saw total outflows of $103.3 million that day, with $95.4 million accounting for 92.3%—basically, almost all the selling pressure came from ETHA.
Adding both sides together, $665.2 million came in and $95.4 million went out—a 6.97-to-1 difference. Put simply, “selling ETH to buy BTC” doesn’t add up; that amount wouldn’t even cover a fraction of IBIT’s inflows.
$ETH is now at 2450.38, up 2.23%, but the money hasn’t flowed back in. I don’t buy the rotation explanation. Only a break below the intraday low of 2377 would mean the selling pressure has reached the spot market. What do you think—is this $95.4 million a rotation into another asset, or just redemptions?
ETH spot ETFs saw total outflows of $103.3 million that day, with $95.4 million accounting for 92.3%—basically, almost all the selling pressure came from ETHA.
Adding both sides together, $665.2 million came in and $95.4 million went out—a 6.97-to-1 difference. Put simply, “selling ETH to buy BTC” doesn’t add up; that amount wouldn’t even cover a fraction of IBIT’s inflows.
$ETH is now at 2450.38, up 2.23%, but the money hasn’t flowed back in. I don’t buy the rotation explanation. Only a break below the intraday low of 2377 would mean the selling pressure has reached the spot market. What do you think—is this $95.4 million a rotation into another asset, or just redemptions?