This morning I just said that ETFs saw another $412 million in outflows on Friday. Now the books are completely clear: all the money institutions put into spot BTC ETFs this year has been handed back.
According to SoSoValue, as of November 5, U.S. spot BTC ETFs had recorded $502 million in net outflows this year, with $25.6 billion flowing in and $26.1 billion flowing out. As recently as October 21, they were still up $1.41 billion in net inflows for the year. In less than three weeks, $869.8 million fled in the four days from November 2 to 5, including $430.2 million on November 5 alone. Fidelity pulled $199.9 million, and BlackRock $105 million. Another $412 million flowed out on Friday, widening net outflows for the year to around $910 million. Holdings have also shrunk from $113.29 billion at the end of last year to $96.65 billion. ETH ETFs have seen about $310 million in net outflows this year, too.
Put simply, institutions aren’t waiting for Tuesday’s CPI to call the shots—they’re getting out first. The referee hasn’t even blown the whistle, but the money has already left the field. $BTC is hovering around 75,900, grinding near 75,600, with last week’s 73,200 level right below.
Just my personal opinion, for reference only.
Will cooler CPI on Tuesday bring institutions back, or will they keep running while it’s still too hot to handle? Pick a side in the comments.
#CPITestsDecemberRateOutlook #BTC #CryptoNews
According to SoSoValue, as of November 5, U.S. spot BTC ETFs had recorded $502 million in net outflows this year, with $25.6 billion flowing in and $26.1 billion flowing out. As recently as October 21, they were still up $1.41 billion in net inflows for the year. In less than three weeks, $869.8 million fled in the four days from November 2 to 5, including $430.2 million on November 5 alone. Fidelity pulled $199.9 million, and BlackRock $105 million. Another $412 million flowed out on Friday, widening net outflows for the year to around $910 million. Holdings have also shrunk from $113.29 billion at the end of last year to $96.65 billion. ETH ETFs have seen about $310 million in net outflows this year, too.
Put simply, institutions aren’t waiting for Tuesday’s CPI to call the shots—they’re getting out first. The referee hasn’t even blown the whistle, but the money has already left the field. $BTC is hovering around 75,900, grinding near 75,600, with last week’s 73,200 level right below.
Just my personal opinion, for reference only.
Will cooler CPI on Tuesday bring institutions back, or will they keep running while it’s still too hot to handle? Pick a side in the comments.
#CPITestsDecemberRateOutlook #BTC #CryptoNews
