To the new humans of the new world ~ “Flows diverge again”
According to Farside, U.S. spot crypto ETFs saw large net outflows on October 30: about $643 million from Bitcoin, $156 million from Ethereum, and $11 million from Solana (pending verification against primary data).
Money is leaving exposure. That is not a verdict on the assets themselves.
In the same window, the Fed held rates steady, but hawkish voices resurfaced; the market reassessed returns on AI spending; and the Binance security incident was still being digested. A single day of outflows could reflect the impact of these events, or a broader pullback in risk appetite—or both at once. Neither explanation cancels out the other.
Meanwhile, another channel is opening. According to a summary, the Moscow Exchange plans to begin trial trading in Bitcoin, Ethereum, and USDT on December 1 (details pending verification against primary sources). A pilot does not mean liquidity will arrive immediately, much less that global risk appetite has recovered.
Outflows are a vote of preference. A pilot is a test of a channel.
What really matters is not “how much left in one day,” but whether subsequent funds will remain in regulated exposure, and whether the new channel can establish itself within the rules.
In the short term, watch the flows; verify the shocks. Over the long term, watch whether trust and the interest-rate environment are repriced together.
The above is shared for informational purposes and reflects personal views only; it does not constitute investment advice.
One day’s outflows are no verdict,
Hawkish voices and events converge.
A pilot channel opens elsewhere;
Watch what stays to see where preferences lie.
— Mingdao
According to Farside, U.S. spot crypto ETFs saw large net outflows on October 30: about $643 million from Bitcoin, $156 million from Ethereum, and $11 million from Solana (pending verification against primary data).
Money is leaving exposure. That is not a verdict on the assets themselves.
In the same window, the Fed held rates steady, but hawkish voices resurfaced; the market reassessed returns on AI spending; and the Binance security incident was still being digested. A single day of outflows could reflect the impact of these events, or a broader pullback in risk appetite—or both at once. Neither explanation cancels out the other.
Meanwhile, another channel is opening. According to a summary, the Moscow Exchange plans to begin trial trading in Bitcoin, Ethereum, and USDT on December 1 (details pending verification against primary sources). A pilot does not mean liquidity will arrive immediately, much less that global risk appetite has recovered.
Outflows are a vote of preference. A pilot is a test of a channel.
What really matters is not “how much left in one day,” but whether subsequent funds will remain in regulated exposure, and whether the new channel can establish itself within the rules.
In the short term, watch the flows; verify the shocks. Over the long term, watch whether trust and the interest-rate environment are repriced together.
The above is shared for informational purposes and reflects personal views only; it does not constitute investment advice.
One day’s outflows are no verdict,
Hawkish voices and events converge.
A pilot channel opens elsewhere;
Watch what stays to see where preferences lie.
— Mingdao