Key Points:
Bitcoin Spot ETF outflows of $18.663M on October 8. The notable one was heavy outflows of $48.82M in FBTC, while inflows went to IBIT for $39.57M. These numbers are indicative of market volatility and market sentiment changes in that large funds flowing in or out are normally considered an institutional interest for or against Bitcoin, according to SoSoValue data.
Read more: Bitcoin Spot ETF Inflows Reaches $235M on October 7
On the same day, Ethereum Spot ETFs saw a net outflow of $8.188M, led by Bitwise’s ETHW at $4.54M and Fidelity’s FETH at $3.65M, after zero flows reported Monday. Continuing the bad days for ETH investors.
Whereas Bitcoin saw inflows, such as into IBIT, Ethereum was not able to attract positive capital flow on the same day. The contrast between Bitcoin’s gain and Ethereum’s loss shows a divergence in the market strategy.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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