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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

BlackRock holds out during $49.2 million in Bitcoin ETF outflow amid Ethereum ghost town

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On Oct. 8, 2024, Bitcoin ETFs saw net outflows totaling $18.6 million. Fidelity’s FBTC ETF led the declines with $48.8 million in outflows, while Grayscale’s GBTC ETF recorded a smaller outflow of $9.4 million. BlackRock’s IBIT ETF was the only notable inflow, adding $39.6 million. Other major ETFs reported no significant activity, including those from Ark, Bitwise, Invesco, Franklin, Valkyrie, VanEck, and WisdomTree.

By Oct. 9, the outflows continued with a total net loss of $30.6 million. Ark’s ARKB ETF led the day’s outflows, losing $44.5 million, while BlackRock’s IBIT ETF recorded a modest inflow of $13.9 million. No inflows or outflows were reported for Fidelity’s FBTC or other major ETFs, marking a quiet day across the broader Bitcoin ETF market.

ETF ProviderIBITFBTCBITBARKBBTCOEZBCBRRRHODLBTCWGBTCBTCTotal (Bitcoin)
Bitcoin ETFs (Oct. 8, 2024)39.6(48.8)0.00.00.00.00.00.00.0(9.4)0.0(18.6)
Bitcoin ETFs (Oct. 9, 2024)13.90.0(44.5)0.00.00.00.00.00.00.0(30.6)

In Ethereum ETFs, Oct. 8 saw a total outflow of $8.1 million, driven primarily by Fidelity’s FETH ETF, which posted $3.6 million in outflows, and Bitwise’s ETHW ETF, which lost $4.5 million. Other Ethereum ETFs, including those from BlackRock, 21Shares, VanEck, Invesco, Franklin, and Grayscale, reported no inflows or outflows.

On Oct. 9, Ethereum ETFs remained static, with no reported activity across all funds, signaling a pause in investor activity in Ethereum-backed products after the previous day’s outflows.

ETF ProviderETHAFETHETHWCETHETHVQETHEZETETHEETHTotal (Ethereum)
Ethereum ETFs (Oct. 8, 2024)0.0(3.6)(4.5)0.00.00.00.00.00.0(8.1)
Ethereum ETFs (Oct. 9, 2024)0.00.00.00.00.00.00.00.00.0

The continued outflows in Bitcoin ETFs over these two days, particularly from Ark and Fidelity, reflect ongoing investor caution. BlackRock’s IBIT ETF remains one of the few funds consistently attracting inflows. Ethereum ETFs, meanwhile, saw limited activity, with modest outflows on Oct. 8 and no significant movement on Oct. 9. This dynamic suggests a broader market consolidation as investors reassess their positions across both Bitcoin and Ethereum assets.

The post BlackRock holds out during $49.2 million in Bitcoin ETF outflow amid Ethereum ghost town appeared first on CryptoSlate.

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