On October 7, US spot Bitcoin ETFs saw an outflow of $23.81 million, seeing a sharp drop from their second-highest inflows of $1.19 billion the previous day. Ethereum ETFs, on the other hand, surged to $420.87 million in inflows, as per SoSoValue data.
Unlike the previous day, only two ETFs in Bitcoin posted action. It recorded a total outflow of $23.81 million, led by Grayscale’s GBTC of $28.62 million. Valkyrie BRRR is the only ETF to record inflows for the day of $4.81 million.
Despite the decline in ETF inflows, the total trading value reached $7.78 billion, marking a sharp surge. Total net assets attracted $167.36 billion, representing 6.78% of the Bitcoin market cap.
Ethereum ETFs saw a total inflow of $420.87 million, with BlackRock ETHA leading at $437.51 million. Additional gains were made by Grayscale ETH of $5.48 million and 21Shares TETH of $3.58 million. Fidelity FETH became the only ETF to record an outflow for the day of $25.70 million.
Four out of nine Ethereum ETFs posted investment activity, as the total trading value reached $4.05 billion. This marks the highest trading value in October. Net assets came in at $30.86 billion, representing 5.67% of total Ethereum market capitalization.
Bitcoin is currently trading at around $121,215, just 3.7% short of its all-time high. Its market capitalization has reached $2.420 trillion, supported by a 24-hour trading volume of $79.323 billion.
Meanwhile, Ethereum is priced at $4,436.12 with a market cap of $535.252 billion and a daily trading volume of 52.25 billion.
Both assets continue to benefit from growing interest in the ETFs. Apart from that, political uncertainties, like the U.S. government shutdown, have also favored the price by driving investors towards crypto as a safe-haven asset.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
BNB just made headlines by smashing a fresh all-time high yesterday, notching a peak at…
YZi Labs, formerly known as Binance Labs, announced a $1 billion Builder Fund to support…
Swedish MP Rickard Nordin has officially proposed removing capital gains taxes on Bitcoin to promote…
The U.S. government shutdown has created significant obstacles for the passage of a comprehensive crypto…
Every bull run produces its breakout stars. Solana (SOL) stole the show by surging from…
The global cryptocurrency market today is facing a sharp cooldown. The total market capitalization dropped…
