BTC and ETH ETFs surfer outflows amid crypto market uncertainty

SoSoValue’s data showed that Bitcoin spot ETFs experienced a total net outflow of $91.76M on Oct. 2nd, and the net asset ratio settled at 4.64%. Fidelity’s Bitcoin ETF (FBTC) led with a daily net inflow of $21.08M, while ARK 21Shares’ ETF (ARKB) performed the worst with a total daily outflow of $60.28M.  

The cumulative total net inflow was down 0.48% to $18.53B, and the total value traded within a single day plunged 34.39% to $1.66B, reflecting a shift in liquidity and trading activity. The data also revealed a strong positive correlation between ‘Total Net Assets’ and ‘BTC Price,’ which stood at $57.68B and $68,470.5, respectively. The ‘Total Net Assets’ dropped by 2.63% between October 1st and October 2nd, but they gained 94.53% from January 10th to date. 

Bitcoin spot ETF flows enter the red zone after days of inflows 

SoSoValue’s Bitcoin spot ETF flows data revealed that the daily total net flows had entered the danger zone after a week of positive net inflows. An 8-day winning streak starting on September 19 ended on October 1 with over $200 million in net outflows. More negative results followed on October 2 with a $91.76 million net outflow.

iShares’ ETF, IBIT had a daily net outflow of $13.74 million, bringing the cumulative net inflow to $21.52 billion. IBIT’s market price fell by 2.53% to $34.24 as 29.35 million shares worth $1.02 billion were traded. Fidelity’s FBTC, on the other hand, recorded more positive results with a $21.08 million daily net inflow, which saw the cumulative net inflow settle at $9.87 billion with net assets of $10.75 billion. Over 4.4 million FBTC shares worth $235.54 million were traded, although FBTC’s market price dropped 2.52% to $52.62. 

ARK 21Shares’ ETF performed the worst with $60.28 million in daily net outflows bringing the cumulative net inflow to $2.57 billion and net assets to $2.91 billion. Only 1.2 million ARK 21Shares’ shares worth over $80 million were traded as the share price dropped 2.53% to $60.13.

Grayscale’s GBTC was the second-worst performing BTC spot ETF, recording over $27 million in outflows, bringing the cumulative net outflow to $20.12 billion and net assets to $13.28 billion. GBTC’s market price fell 2.44% to $47.92 as 3.65 million shares worth $177.91 million were traded.

Other BTC spot ETFs recorded zero daily flows except for Bitwise’s ETF BITB, which saw a daily net outflow of $11.51 million but with a positive cumulative net inflow of $2.09 billion. BITB’s net assets stood at $2.34 billion, although its share price had dipped 2.53% to $32.79 after 2.16 million shares worth over $70 million were traded.

Ethereum spot ETFs perform worse on cumulative flow rates 

SoSoValue’s data showed that ETH spot ETFs performed better in daily total net flows, recording a net inflow of $14.45 million. The total value traded as of October 2nd was $197.82 million, and the total net assets amounted to $6.51 billion, about 2.27% of Ethereum’s market cap. ETH spot ETFs recorded a cumulative total net outflow of $557.86 million as investors took back their money.  

Daily net flows were only recorded from three ETH ETFs. 

Grayscale’s ETHE had the only daily net outflow of $5.4 million, pushing the cumulative net outflow to $2.94 billion. ETHE’s net assets stood at $3.92 billion as 4.62 million shares worth $94.38 million were traded at approximately $19.98 (-4.77%). 

iShares’ ETHA performed the best, with a daily net inflow of $18.04 million and cumulative net inflows of $1.16 billion. ETHA’s net assets were at $941.87 million after 2.63 million shares worth $48.14 million were traded at $17.98 (-4.67%). 

Franklin’s ETF EZET also saw positive daily flows. It recorded an inflow of $1.81 million, bringing the cumulative net inflows up to $37.12 million and net assets to $29.87 million. EZET’s market price fell by 4.7% to $18.03, as 27.35K shares worth over $500K were traded.