Bitcoin and Ethereum spot ETFs experienced capital outflows yesterday, signaling a change in market sentiment?
According to the latest data from SoSoValue, Bitcoin spot ETFs saw a net outflow of $54.94 million yesterday, marking the first net outflow after continuous net inflows over the past 7 days.
Among them, Fidelity ETF FBTC had a single-day net outflow of $25.64 million, ranking first in single-day net outflows; followed closely by Ark 21share ETF ARKB with a single-day net outflow of $24.13 million; while Grayscale ETF GBTC recorded a single-day net outflow of $5.51 million, with a historical total net outflow of $20.16 billion; Grayscale Bitcoin Mini Trust ETF BTC, on the other hand, had a single-day net inflow of $13.51 million, bringing its historical total net inflow to $502 million.
Currently, the total net asset value of Bitcoin spot ETFs stands at $69.64 billion, accounting for 5.08% of Bitcoin's market value, with a historical cumulative net inflow of $24.15 billion.
Similarly, Ethereum spot ETFs also saw a net outflow of $10.93 million yesterday, marking the first net outflow after three consecutive days of net inflows.
Among these, Grayscale Ethereum Trust ETF ETHE had a single-day net outflow of $11.43 million, with a historical total net outflow of $3.13 billion; Grayscale Ethereum Mini Trust ETF ETH recorded no capital movement for the day, maintaining a historical total net inflow of $303 million. Invesco ETF QETH emerged as the Ethereum spot ETF with the highest single-day net inflow, recording a net inflow of $502,000, with a historical total net inflow of $25.82 million.
Currently, the total net asset value of Ethereum spot ETFs is $6.94 billion, accounting for 2.29% of Ethereum's market value, with a historical cumulative net outflow of $491 million.
🗣 Conclusion:
In summary, although the previous continuous net inflows indicated a positive attitude from investors towards the cryptocurrency market, yesterday's capital outflows may reflect caution from some investors or uncertainty in the market in the short term.
Investors should closely monitor market dynamics, including macroeconomic factors, industry news, and regulatory policies, to make more informed investment decisions.
💬 Despite the capital outflow yesterday, Bitcoin's price also saw a slight adjustment. Are you optimistic about the outlook of the cryptocurrency market this month? Would you choose to invest in spot ETFs, or opt for direct investment in cryptocurrencies?
