While the crypto market remains weak, the outtrend in both Bitcoin and Ethereum spot ETFs continued last week.
Bitcoin and Ethereum Spot ETFs Hit Hard: Third Week in a Row of Net Outflows
According to SoSoValue data, there were net outflows of $1.11 billion from Bitcoin spot ETFs between November 10 and 14. This marked the third consecutive week of outflows for Bitcoin ETFs.
The Bitcoin spot ETF with the highest weekly inflow was ARKB, managed in partnership with Ark Invest and 21Shares. The fund saw net inflows of $1.68 million last week, bringing its historical total net inflow to $1.91 billion.
The largest outflow occurred in BlackRock’s IBIT fund. IBIT posted a net outflow of $532 million during the week, while its historical net inflow fell to $63.79 billion. Grayscale Bitcoin Mini Trust (BTC) came in second with an outflow of $290 million.
As of press time, the total net asset value of Bitcoin spot ETFs was $125.34 billion, representing a 6.67% share of Bitcoin’s market capitalization. Cumulative net inflows into Bitcoin ETFs were $58.85 billion.
Ethereum fared even weaker. Ethereum spot ETFs saw net outflows of $729 million last week, the third-highest weekly outflow ever. None of the nine Ethereum ETFs recorded inflows.
The biggest outflow of the week was from the BlackRock ETHA fund. ETHA experienced a net outflow of $421 million, bringing its total historical net inflow to $13.45 billion. The Grayscale Ethereum Mini Trust (ETH) came in second with an outflow of $135 million.
Ethereum ETFs have a total net asset value of $20 billion, representing 5.42% of Ethereum’s total market capitalization. Cumulative net inflows are $13.13 billion.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/weekly-losses-continue-for-bitcoin-and-ethereum-etfs-heres-all-the-data/
