On the same day, Bitcoin ETFs were still seeing buying while Ethereum ETFs were being abandoned—and the gap is widening.
The facts: U.S. spot Bitcoin ETFs recorded net inflows of $17.07 million on Oct. 29 (U.S. time), their fourth consecutive day of inflows (SoSoValue data via PANews & KuCoin, Oct. 30). BlackRock IBIT +$12.8 million, Fidelity FBTC +$10.53 million, and Bitwise BITB +$8.76 million—offset by outflows from Grayscale Mini (-$15.35 million) and WisdomTree (-$3.84 million). In contrast, spot Ethereum ETFs saw $105.5 million in outflows on the same day, their fourth consecutive day of outflows as well: BlackRock ETHA -$71.7 million, ETHB staking -$15.6 million, Grayscale ETHE -$15.54 million, with only Fidelity FETH seeing inflows (+$2.9 million). Total ETH outflows for October reached $1.45 billion—the largest monthly outflow on record.
My take: This is a divergence, not a mass exodus from crypto. Institutions are still distinguishing between BTC and ETH: they have enough confidence in BTC to keep buying, even though the amount is down from $137 million the previous day—momentum is weakening. ETH, by contrast, has been abandoned throughout October, and this monthly record confirms that the pressure is structural, not just one bad day. Important note: These flows are from the Oct. 29 session, before the full-blown panic following the Binance hack—so tomorrow’s data will show whether BTC’s streak of inflows holds.
What I’m watching: ETF flows from the Oct. 30 session, due out tomorrow; whether BTC holds above the morning low of $76,527; and whether ETH outflows finally slow down.
What do you think—does this divergence mean BTC is increasingly viewed as a defensive asset in crypto, or is ETH just being washed out before it bounces back?
This is my analysis, not financial advice—always DYOR.
#ETFBitcoin #Ethereum $BTC $ETH
The facts: U.S. spot Bitcoin ETFs recorded net inflows of $17.07 million on Oct. 29 (U.S. time), their fourth consecutive day of inflows (SoSoValue data via PANews & KuCoin, Oct. 30). BlackRock IBIT +$12.8 million, Fidelity FBTC +$10.53 million, and Bitwise BITB +$8.76 million—offset by outflows from Grayscale Mini (-$15.35 million) and WisdomTree (-$3.84 million). In contrast, spot Ethereum ETFs saw $105.5 million in outflows on the same day, their fourth consecutive day of outflows as well: BlackRock ETHA -$71.7 million, ETHB staking -$15.6 million, Grayscale ETHE -$15.54 million, with only Fidelity FETH seeing inflows (+$2.9 million). Total ETH outflows for October reached $1.45 billion—the largest monthly outflow on record.
My take: This is a divergence, not a mass exodus from crypto. Institutions are still distinguishing between BTC and ETH: they have enough confidence in BTC to keep buying, even though the amount is down from $137 million the previous day—momentum is weakening. ETH, by contrast, has been abandoned throughout October, and this monthly record confirms that the pressure is structural, not just one bad day. Important note: These flows are from the Oct. 29 session, before the full-blown panic following the Binance hack—so tomorrow’s data will show whether BTC’s streak of inflows holds.
What I’m watching: ETF flows from the Oct. 30 session, due out tomorrow; whether BTC holds above the morning low of $76,527; and whether ETH outflows finally slow down.
What do you think—does this divergence mean BTC is increasingly viewed as a defensive asset in crypto, or is ETH just being washed out before it bounces back?
This is my analysis, not financial advice—always DYOR.
#ETFBitcoin #Ethereum $BTC $ETH