🚨 SPOT ETFs JUST BLED $964M IN TWO DAYS 👀
US Bitcoin and Ethereum spot ETFs lost $964M over the last two trading days, and October's combined outflows are now nearing the $1B mark.
The pain is concentrated in the biggest names: Fidelity's FBTC led Bitcoin ETF redemptions with $197M, and BlackRock's ETHA accounted for $71M of the Ethereum withdrawals (The Crypto Times).
Meanwhile $BTC spot is holding around $82.7K on Binance, after rejecting $87K earlier this week (MSTR even saw its mNAV compress to 0.98).
So institutions are heading for the exit while retail keeps buying the dip. One side of this trade is reading the market wrong.
Which one is it? 👇
Not financial advice. DYOR.
#crypto #Bitcoin #ETF
US Bitcoin and Ethereum spot ETFs lost $964M over the last two trading days, and October's combined outflows are now nearing the $1B mark.
The pain is concentrated in the biggest names: Fidelity's FBTC led Bitcoin ETF redemptions with $197M, and BlackRock's ETHA accounted for $71M of the Ethereum withdrawals (The Crypto Times).
Meanwhile $BTC spot is holding around $82.7K on Binance, after rejecting $87K earlier this week (MSTR even saw its mNAV compress to 0.98).
So institutions are heading for the exit while retail keeps buying the dip. One side of this trade is reading the market wrong.
Which one is it? 👇
Not financial advice. DYOR.
#crypto #Bitcoin #ETF