Hey fam!! The institutional ledger has updated again, and it’s been outflowing for the fourth trading day in a row!!!
Data updated by SoSoValue today: U.S. spot Bitcoin ETFs saw total net outflows of about $95 million on November 10 (Tuesday)—that’s four straight days of outflows. BlackRock’s IBIT alone saw about $78.24 million flow out, while Fidelity’s FBTC shed about $36.79 million; among the 12 funds, Morgan Stanley’s MSBT was pretty much the only one seeing inflows, at about $20.03 million haha.
That’s about half the $201 million outflow from the previous day, but don’t celebrate too soon!!! IBIT’s outflows alone already outweighed MSBT’s inflows. Put simply, the biggest fund is still seeing redemptions, and real buying hasn’t returned yet～
ETH was almost flat by comparison: on the same basis, U.S. spot ETH ETFs saw net outflows of only about $1.32 million that day, versus about $184.5 million the previous day. The outflows have shrunk, but the four-day trend still hasn’t reversed.
Honestly, don’t take “smaller outflows” to mean institutions are back and call it a day!!! CPI just came in hot, rate-hike expectations are still firm, and until the ledger turns positive, don’t chase a short-lived rebound.
I just checked CoinGecko: BTC is around 73,900 (down about 1.2% over 24h), ETH around 2,070 (down about 2.5% in a day), BNB around 681, and SOL around 83. The total crypto market cap is around $2.48 trillion, down about 3.8% over 24h. The Fear & Greed Index is 29, still in fear territory～
Do you think these redemptions are easing and things are about to stabilize, or are institutions just selling more slowly while the trend remains unchanged?
$BTC $ETH
#ETF #Crypto
Data updated by SoSoValue today: U.S. spot Bitcoin ETFs saw total net outflows of about $95 million on November 10 (Tuesday)—that’s four straight days of outflows. BlackRock’s IBIT alone saw about $78.24 million flow out, while Fidelity’s FBTC shed about $36.79 million; among the 12 funds, Morgan Stanley’s MSBT was pretty much the only one seeing inflows, at about $20.03 million haha.
That’s about half the $201 million outflow from the previous day, but don’t celebrate too soon!!! IBIT’s outflows alone already outweighed MSBT’s inflows. Put simply, the biggest fund is still seeing redemptions, and real buying hasn’t returned yet～
ETH was almost flat by comparison: on the same basis, U.S. spot ETH ETFs saw net outflows of only about $1.32 million that day, versus about $184.5 million the previous day. The outflows have shrunk, but the four-day trend still hasn’t reversed.
Honestly, don’t take “smaller outflows” to mean institutions are back and call it a day!!! CPI just came in hot, rate-hike expectations are still firm, and until the ledger turns positive, don’t chase a short-lived rebound.
I just checked CoinGecko: BTC is around 73,900 (down about 1.2% over 24h), ETH around 2,070 (down about 2.5% in a day), BNB around 681, and SOL around 83. The total crypto market cap is around $2.48 trillion, down about 3.8% over 24h. The Fear & Greed Index is 29, still in fear territory～
Do you think these redemptions are easing and things are about to stabilize, or are institutions just selling more slowly while the trend remains unchanged?
$BTC $ETH
#ETF #Crypto