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News

Bitcoin Spot ETF Outflows Total $123M Amid Ethereum Inflows

November 27, 2024 - Around 2 mins mins to read

Key Points:

  • Bitcoin Spot ETF Outflows reached $123M on November 26.
  • Ethereum Spot ETF saw $40.67M inflows during the same period.
Bitcoin Spot ETF outflows hit $123M on November 26, while Ethereum Spot ETF recorded $40.67M inflows. Key trends emerge as crypto ETFs fluctuate.
Bitcoin Spot ETF Outflows Total $123M Amid Ethereum Inflows

Bitcoin Spot ETF Outflows Highlight Volatility

In contrast to the five days of inflows earlier, the Bitcoin Spot ETF saw an extreme net outflow of $123 million on November 26. It might be symptomatic of changes in investor sentiment because of broader macroeconomic factors or just a case of mere profit-taking post-surge. The outflows tapered the overall market activities of the ETF, though Bitcoin ETFs have big global holdings.

Despite such outflows, entities like BlackRock continue aggressively promoting deep ETF involvement. For example, their Bitcoin Spot ETF, IBIT, has had an inflow daily, proving that investors remain confident in the long-term success of Bitcoin ETFs. According to Sosovalue, the net asset value of the Bitcoin Spot ETFs currently stands at $102.23 billion, making them highly resilient in the market.

Read more: Bitcoin Spot ETF Outflows Hit $438 Million On November 25

Ethereum Spot ETF Sees $40.67M Inflows Amid Bitcoin Shift

Ethereum Spot ETFs saw $40.67 million in net inflows on the same day, while Bitcoin had $123 million outflows. Ethereum is becoming a strong investment asset as market players diversify portfolios amongst prominent crypto assets.

Ethereum inflows indicate trust in its technological advancements and decentralized finance acceptance. Despite Bitcoin ETF fluctuations, Ethereum Spot ETFs remain stable with a net asset value of $10.277 billion. These changes demonstrate Bitcoin market dynamics.

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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Bitcoin Spot ETF

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Author

William

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.