Silke Mayr As of November 1, U.S. Bitcoin spot exchange-traded funds (ETFs) recorded a daily outflow of $54.94 million, while Ethereum ETFs saw an outflow of $10.93 million.
Recent data from SoSoValue indicates that Bitcoin ETFs experienced a significant outflow on November 1, with IBIT showing a net inflow of $0 for the day. Cumulatively, IBIT has recorded a total net inflow of $26.14 billion.
Meanwhile, the Grayscale Bitcoin Trust (GBTC) also faced a $5.51 million outflow, bringing its cumulative net inflow to -$20.16 billion. Other notable outflows included FBTC, ARKB, and BITB, which reported net outflows of $25.64 million, $24.13 million, and $5.64 million, respectively.
In contrast, the Grayscale Bitcoin Mini Trust was one of the few to enjoy positive movement, with an inflow of $13.51 million, raising its cumulative net inflow to $502.07 million. Overall, most Bitcoin ETFs have seen outflows, resulting in a total cumulative net inflow of approximately $24.15 billion as of November 1.
Ethereum ETFs mirrored this trend, experiencing a total outflow of $10.93 million, contributing to a cumulative net inflow of -$491.44 million. Among these, the ETHE ETF reported the largest outflow of $11.43 million, lowering its cumulative net inflow to -$3.13 billion. Other Ethereum ETFs, including ETHA, ETH, FETH, ETHW, ETHV, and EZET, showed no inflows or outflows.
However, QETH did manage to attract over $502,000 in inflow, raising its cumulative total to $25.82 million.
These outflows occur as the overall cryptocurrency market cap has decreased to $2.32 trillion, with Bitcoin priced around $69,400 and Ethereum at approximately $2,490 at the time of reporting.