On November 2, Bitcoin funds in the U.S. lost $54.94 million in a single day, while Ethereum funds also saw $10.93 million pulled out
New data from SoSoValue shows that on November 1, Bitcoin funds in the U.S. lost $54.94 million in investments.
On that day, there was no new money added to IBIT. But overall, IBIT has collected a total of $26.14 billion so far.
On the other hand, GBTC lost $5.51(inflow) million that day, which has increased its cumulative net -$20.16 billion.
FBTC, ARKB, BITB and HOLD experienced net outflows of $25.64 million, $24.13 million, and $5.64 million, $5.86 respectively.
While most Bitcoin ETFs experienced outflows, Grayscale Bitcoin Mini Trust bucked the trend. It saw inflows of $13.51 million, bringing its total inflows to $502.07 million by November 1st.
The majority of Bitcoin ETFs experienced net outflows, rather than inflows. Despite this, the cumulative total net inflow for all Bitcoin ETFs reached approximately $24.15 billion as of November 1st.
- Ethereum ETFs experienced a net outflow of $10.93 million.
Similar to Bitcoin ETFs, Ethereum ETFs experienced net outflows, amounting to $10.93 million. As a result, their cumulative net inflow has decreased to -$491.44 million, according to data from SoSoValue.
The Ethereum ETF landscape is showing mixed signals. While QETH bucked the trend with a $502,000 inflow, ETHE took a major hit with an $11.43 million outflow.
The remaining Ethereum ETFs—ETHA, ETH, FETH, ETHW, ETHV, and EZET—saw no net inflows or outflows.
This lackluster performance comes as the cryptocurrency market, led by Bitcoin and Ethereum, is grappling with a significant price decline. With the market cap plunging to $2.32 trillion, investors seem hesitant to allocate funds to Ethereum ETFs.