You can also read this news on BH NEWS: Why Are Bitcoin ETFs Losing While Ethereum Thrives?
On October 2, significant losses were reported for spot Bitcoin ETFs in the United States, particularly impacting well-known funds from companies like BlackRock, Ark Invest, and Grayscale. In stark contrast, Fidelity’s fund successfully attracted investments during this downturn, while spot Ethereum ETFs showed an upward trend in interest from investors.
The losses for U.S. spot Bitcoin ETFs reached a staggering $91.7 million in a single day, primarily driven by substantial withdrawals from three major fund managers. Ark Invest’s ETF recorded the largest outflow, losing $60 million. Grayscale followed with a $27 million withdrawal, and BlackRock’s fund closed with a $13 million drop.
Despite the declines in Bitcoin ETFs, spot Ethereum ETFs garnered positive investor response, with a notable inflow of $14 million. BlackRock led this growth, capturing $18 million for its Ethereum fund, signaling a potential shift in investor preferences.
The recent trends highlight important insights:
The current dynamics within the cryptocurrency ETF sector illustrate a complex landscape shaped by varying investor sentiments. Monitoring these developments is crucial, as they play a pivotal role in determining the trajectory of the cryptocurrency market moving forward.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.