Bitcoin ETFs Lost $731 Million in Two Days, Then Turned Positive. Is the Selling Over?
Key Summary
Bitcoin ETFs experienced a significant loss of $731 million in two days, followed by a $21 million inflow on October 9. However, the question remains whether this is a genuine shift or just a brief pause before selling pressure resumes. Ethereum ETFs suffered nine consecutive days of outflows, while XRP ETFs remained stable. The week of October 12 will be crucial in determining if selling pressure is easing.
Bitcoin ETFs Recover from $731 Million Loss, But Is Selling Over?
Market UpdateThe S&P 500, Dow Jones, Nasdaq 100, and Russell 2000 saw positive gains on October 9, with the S&P 500 rising 0.58
to 7,823.60, the Dow Jones increasing 0.91 to 51,740.80, the Nasdaq 100 rising 0.38 to 30,928.20, and the Russell 2000 increasing 0.43 to 2,809.13.Bitcoin ETFsThe $731 million loss in Bitcoin ETFs over the previous two days has been partially recovered, with a $21 million inflow on October 9. However, the funds' total net assets have decreased by $4.9 billion, primarily due to Bitcoin's price drop.
Ethereum ETFsEthereum ETFs have faced nine consecutive days of outflows, totaling around $542 million. Their worst day was October 6, when $202 million exited the fund.
XRP ETFsXRP ETFs were the only group with no outflow days throughout the week, attracting $11.3 million over two sessions.
Dogecoin ETFsDogecoin ETFs faced zero flows for seven consecutive days from October 1 to October 9, after a $551,000 exit on September 30. The lack of activity suggests general investor disinterest.
Fund FlowsThe week of October 12 will be crucial in determining if selling pressure is easing. Consecutive Bitcoin inflows paired with Ethereum's first gain since September 28 would signal that selling pressure is easing.