【Hot Take | After the hack, money is flowing out of ETFs too】
Everyone’s been watching Binance withdrawals these past few days. But spot ETFs in the US stock market have also delivered a “sentiment report”—and it doesn’t look good.
First, the verifiable figures (tracked by Decrypt ETF, US Eastern Time):
1) Spot BTC ETFs saw net outflows of about $643 million on 10/30 (Friday), the biggest single-day outflow in October and the first full trading day after the hack. The roughly $441 million that had flowed in over the previous four consecutive days was wiped out in just one day. Net outflows for October as a whole were about $516 million.
2) Spot ETH ETFs saw outflows for five consecutive days, totaling about $431 million. Outflows for October as a whole were about $1.61 billion.
3) Spot SOL ETFs also saw outflows for five consecutive days, totaling about $72 million that week. There were only two days of net inflows in October.
My take:
In terms of scale, these BTC outflows aren’t a major blow (total assets are still a little over $100 billion). What stands out more are smaller ETFs like ETH and SOL, where the money still hasn’t returned. This suggests institutions weren’t spooked into leaving by the hack; they were already sitting on the sidelines, and the incident just gave them a nudge. The US stock market’s new week starts tonight, and with the midterm elections and nonfarm payrolls coming up, whether ETF flows can turn positive is more worth watching than any trading calls.
I’m sticking with my regular SOL purchases, one installment every 12 hours ($SOLUSDT perpetual contract is currently around 95; around 10:35 a.m. Beijing time on 11/2). I won’t stop because of ETF outflows, or buy more just because the price has fallen.
This is only a summary of publicly available information and does not constitute investment advice.
$BTCUSDT $SOLUSDT
#ETF #资金流向 #DailyHotTopics
Everyone’s been watching Binance withdrawals these past few days. But spot ETFs in the US stock market have also delivered a “sentiment report”—and it doesn’t look good.
First, the verifiable figures (tracked by Decrypt ETF, US Eastern Time):
1) Spot BTC ETFs saw net outflows of about $643 million on 10/30 (Friday), the biggest single-day outflow in October and the first full trading day after the hack. The roughly $441 million that had flowed in over the previous four consecutive days was wiped out in just one day. Net outflows for October as a whole were about $516 million.
2) Spot ETH ETFs saw outflows for five consecutive days, totaling about $431 million. Outflows for October as a whole were about $1.61 billion.
3) Spot SOL ETFs also saw outflows for five consecutive days, totaling about $72 million that week. There were only two days of net inflows in October.
My take:
In terms of scale, these BTC outflows aren’t a major blow (total assets are still a little over $100 billion). What stands out more are smaller ETFs like ETH and SOL, where the money still hasn’t returned. This suggests institutions weren’t spooked into leaving by the hack; they were already sitting on the sidelines, and the incident just gave them a nudge. The US stock market’s new week starts tonight, and with the midterm elections and nonfarm payrolls coming up, whether ETF flows can turn positive is more worth watching than any trading calls.
I’m sticking with my regular SOL purchases, one installment every 12 hours ($SOLUSDT perpetual contract is currently around 95; around 10:35 a.m. Beijing time on 11/2). I won’t stop because of ETF outflows, or buy more just because the price has fallen.
This is only a summary of publicly available information and does not constitute investment advice.
$BTCUSDT $SOLUSDT
#ETF #资金流向 #DailyHotTopics
