On October 20, both US spot crypto ETFs saw a sharp decline in inflows. According to SoSoValue, Bitcoin ETFs dropped to $40.47 million outflows, while Ethereum ETFs reported $145.68 million.
Bitcoin ETFs recorded $40.47 million in outflows led by BlackRock IBIT’s $100.65 million withdrawal. Other than that, five ETFs posted small inflows including VanEck HODL $21.16 million, Bitwise BITB $12.05 million, Invesco BTCO $9.94 million, and Fidelity FBTC $9.67 million.
Smallest inflow of the day was reported by Grayscale BTC of $7.36 million. Overall, the total trading value dropped to $4.87 billion, marking a sharp plunge. Net assets came in at $149.66 billion, representing 6.76% of Bitcoin market capitalization.
Ethereum ETFs saw a total outflow of $145.68 million, with only two ETFs posting action. BlackRock ETHA saw $117.86 million in outflows, while Fidelity FETH reported $27.82 million. No inflows were recorded for the day.
The continued outflows in Ethereum ETFs signals a negative market sentiment for the asset. The total trading value reached $2.15 million, slightly lower than the last week. Total net assets recorded $26.83 billion, marking 5.56% of Ethereum market cap.
Bitcoin continues to experience a bearish trend as the price drops to $107,759.93. It fell around 3.19% in a day with a 24-hour trading volume of $62.34 billion.
Meanwhile, Ethereum is also facing similar market tension. Its price has dipped around $3,887.54 amid the market volatility. This marks a 4.55% decline from the previous day, as its market capitalization and daily trading volume also decline.
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.
BTC price fell sharply to $74,500 over the weekend following a sudden escalation in geopolitical…
The crypto market has turned green over the last 24 hours, offering some relief after…
Ripple has received full approval for an Electronic Money Institution (EMI) license in the European…
HBAR price is trading near $0.09418 as bearish pressure continues across the broader altcoin market.…
Bitcoin is showing early signs of stabilising after bouncing from its recent April low, but…
The crypto market has been under heavy selling pressure over the past few days, with…
