- Bitcoin ETFs experienced notable inflows of $192.4 million following a brief period of outflows.
- Ethereum ETFs are facing challenges with erratic inflows, reflecting market instability.
Institutional investors have temporarily paused their aggressive buying of Bitcoin [BTC], as BTC prices enter a consolidation period.
Recent data from various sources, including the UK investment firm Farside Investors, indicates that inflows into U.S. spot Bitcoin exchange-traded funds (ETFs) have turned net negative for the first time in two weeks.
This pause in buying activity reveals an increasing caution among investors as they evaluate the next steps in BTC’s fluctuating market.
Analysis of Bitcoin ETFs
The latest information shows that Bitcoin ETFs encountered a significant outflow of $79.1 million on October 22nd.
Specifically, Ark’s 21Shares BTC ETF experienced the largest outflow, totaling $134.7 million.
However, not all ETFs faced losses—several Bitcoin ETFs recorded net inflows, with BlackRock’s iShares Bitcoin Trust (IBIT) standing out by achieving the highest inflow of $43 million.
The contrasting movements of these funds underscore the varying sentiment among investors across different Bitcoin ETF products.
Moreover, as of October 23rd, BTC ETFs reversed their trend, showing a strong inflow of $192.4 million.
Despite Ark’s 21Shares continuing to show outflows at $99 million, along with Bitwise’s BITB losing $25.2 million and VanEck’s HODL down by $5.6 million, the overall trend shifted positively.
Importantly, BlackRock’s iShares Bitcoin Trust ETF (IBIT) saw a remarkable inflow of $317.5 million, highlighting its sustained attractiveness to investors.
This consistent inflow reflects growing investor confidence in BlackRock’s Bitcoin ETF as a favored option for market exposure.
Insights from Executives
Commenting on the situation, Nate Geraci, co-founder of the ETF Institute, shared his thoughts on X (formerly Twitter).
Source: Nate Geraci/X
Additionally, Ki Young Ju, co-founder of the blockchain analytics platform CryptoQuant, also weighed in on the matter.
Source: Ki Young Ju/X
Update on Ethereum ETFs
Meanwhile, Ethereum [ETH] ETFs exhibited varied performance on both October 22nd and 23rd, though they did not attract as much interest as Bitcoin ETFs.
On October 22nd, ETH ETFs recorded an outflow of $11.9 million, with only BlackRock’s ETHA seeing any inflows, while others remained stagnant.
The next day, these Ethereum ETFs experienced slight inflows of $1.2 million.
However, Grayscale’s ETHE faced an outflow of $7.6 million, with only Fidelity, 21Shares, and Invesco’s Ethereum ETFs reporting inflows, indicating the unpredictable nature of ETH ETF investments.
Price Movements of ETH and BTC Explained
On the latest market updates, Bitcoin is currently priced at $66,811.00, reflecting a 0.51% increase over the last 24 hours, indicating steady momentum.
Conversely, Ethereum has seen a decline, with its price dropping by 2.29% to $2,519.34, according to data from CoinMarketCap.
These fluctuations emphasize the ongoing volatility within the crypto market, with BTC maintaining its upward trajectory while ETH is facing short-term setbacks.
